Bosch to Cut 22,000 Jobs by 2027 Amidst EU CO2 Regulation Concerns
Bosch, the multinational engineering and technology company, has announced plans to cut around 22,000 jobs globally by 2027. This includes significant reductions in Germany, with 3,500 jobs at risk in Feuerbach and 1,900 in Schwieberdingen. The company's CEO, Stefan Grosch, has attributed this move to a lack of demand for electric vehicles and has urged the EU to reconsider its CO2 fleet regulations.
Bosch, a major player in the automotive industry, finds the current EU regulation too restrictive. It is advocating for a more technology-open approach that allows for the continued use of hybrid drives, range extenders, and drive systems for renewable fuels after 2035. Grosch has called on EU governments to change the CO2 fleet regulation to accommodate these technologies.
The company is preparing for the existing regulations while seeking 'socially acceptable solutions' for the job cuts. It aims to balance the need to reduce its workforce with maintaining competitiveness in Germany's automotive market.
Bosch's job cuts, totaling around 22,000 by 2027, reflect the company's response to the evolving automotive market and the EU's regulatory environment. The company is urging the EU to reconsider its CO2 fleet regulation to allow for a broader range of technologies post-2035. Meanwhile, Bosch is committed to finding socially responsible solutions for its employees while ensuring the company's competitiveness.
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