With no sign of the German automotive industry crisis easing, the Bosch subsidiary ETAS, which specializes in vehicle software, is planning to cut up to 400 jobs worldwide.
The plans affect around one in eight of its around 3,100 employees worldwide, although the exact number would depend on talks with staff representatives, a company spokeswoman said on Thursday.
According to the company, more than half of these, around 1,650, were working in its six sites in Germany at the beginning of July.
The spokeswoman cited the downturn in the sector as the reason. Among other things, intelligent driver assistance systems are not in as much demand as expected, and other projects are currently on hold.
The subsidiary based in Stuttgart generated a turnover of €499 million ($524 million) in 2023. Among other things, it develops basic software for car manufacturers and other suppliers. However, its portfolio also includes cybersecurity solutions for vehicles.
Bosch has been announcing job cuts for over a year. By the end of 2032, more than 12,000 jobs could be lost worldwide, including more than 7,000 in Germany.
Most of these are in the supplier division. However, jobs will also go in other areas such as the tools division. There have recently been protests against the redundancy plans at several Bosch locations in Germany.
The automotive industry is in crisis due to the weak economy and is suffering from weak demand, especially for e-cars.
At Volkswagen, wage cuts, plant closures and job cuts are also on the cards. IG Metall, the country’s largest union, is mobilizing against this with strikes.
At Ford in Germany, 2,900 jobs are to be cut by 2027. Suppliers ZF, Continental and Schaeffler also plan to cut thousands of jobs.
