Automotive parts giant BOSCH announces layoffs of 7,000 people in Germany
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German automotive parts giant BOSCH announced it will lay off 7,000 employees at its factories, primarily affecting the automotive supply division. CEO Stefan Hartung stated that economic targets cannot be achieved in 2024, and further personnel adjustments may be made. BOSCH's revenue in 2023 is nearly USD 98 billion, with a projected sales return rate of 4%. At the same time, BOSCH plans to acquire the Irish company Johnson Controls for approximately USD 8 billion to enhance its position in the heat pump and air conditioning sectors
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