Bosch Power Tools to Cut Hundreds of Jobs at its Headquarters in Germany
Plans to expand its portfolio of cordless power tools and its North American business
BADEN-WURTTEMBERG, Germany—According to ETMM, A Bosch representative told Deutsche Presse-Agentur that the company currently expects up to 560 jobs to be cut by the end of 2026. The plans will affect more than a quarter of the approximately 2,000 employees at the Leinfelden-Echterdingen site in Baden-Württemberg, Germany. The company cited changes in market and customer requirements as one of the reasons. The exceptional economic situation during the coronavirus pandemic had largely saturated demand. Furthermore, high inflation and the generally tense economic situation have had a lasting negative impact on the consumer climate. According to Bosch, the company also intends to invest in expanding its portfolio of cordless power tools and plans to expand its North American business.