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Bosch Announces 3500 jobs in home appliances for efficiency and cost-cutting.

Bosch's decision to cut 3,500 jobs at its BSH home appliances subsidiary by 2027 reflects ongoing challenges in Germany's manufacturing sector. The move aims to enhance competitiveness by reducing complexity and costs, responding to a demanding economic environment. BSH emphasizes the necessity to review structures and align with new growth markets, prompting adjustments in personnel structures and costs.

The global job reduction primarily impacts "indirect" workers, focusing on administrative positions. Approximately 1,000 jobs will be eliminated this year. BSH, initially a joint venture by Bosch and Siemens in 1967, became a wholly Bosch-owned subsidiary a decade ago, employing around 60,000 people globally, with 17,000 in Germany.

Germany's industrial sector faces difficulties, grappling with the aftermath of Russia's war in Ukraine, surging energy costs, higher interest rates, and reduced exports. Bosch previously announced plans to cut 1,500 jobs in its auto supply business, aligning with the automotive industry's shift towards electric vehicles.

BSH's rival Miele recently announced the elimination of up to 2,700 jobs as part of a cost-cutting initiative. Chemicals giant Bayer and BASF also disclosed significant staff reductions, highlighting broader trends in the sector.

BASF, joining the list, unveiled further job cuts alongside a one-billion-euro savings plan, reflecting the widespread challenges and adjustments within the German manufacturing landscape. These measures underline the industry's response to economic shifts and the need to adapt to evolving market dynamics.

Feb. 24, 2024 11:27 a.m. 1378

#Bosch #BSH #JobCuts #Manufacturing #EconomicChallenges #GlobalRestructuring #Competitiveness #IndustrialSector #Germany #AutoIndustry #ElectricVehicles #Miele #Bayer #BASF #CostCutting #MarketAdaptation#headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetwork

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