BERLIN (Reuters) -Automotive supplier Bosch wants to cut 1,200 jobs in its software development division by the end of 2026, a company spokesperson said on Thursday, confirming a report in Handelsblatt daily.
The spokesperson said talks with employee representatives had yet to start, referring to the proposed job cuts as planned but not yet finalised.
The main reason given for the move, which sees 950 cuts in Germany alone, is the significantly slower-than-expected development of fully automated driving, Handelsblatt reported.
"A weak economy and high inflation, caused among other things by increased energy and commodity costs, are currently slowing down the transition," the company said in a statement.
The employees of the affected division had been informed yesterday afternoon about the plans, the spokesperson said.