However, his pride does little to help German industry. Every two or three days, we hear laments from Germany about yet another industrial corporation on the verge of collapse.
Now, the German giant Bosch has announced plans to cut 5,500 jobs, 3,800 of which are in Germany. A significant portion of those affected are employees in the automotive software development divisions. This makes sense, given the current state of Germany’s automotive industry.
Back in December 2023, the company planned to lay off 1,500 employees by 2025. Yet here we are, with those plans quadrupling. By late October, CEO Stefan Hartung was already hinting at cuts of 7,000 jobs.