The automotive supplier Bosch announces that it will cut 900 jobs at its Nuremberg factory by 2029.
AI-generated summary
Bosch posted a loss last year for the first time since the financial crisis. The group plans to cut 22,000 jobs across the group.
Bosch has announced that it will cut 900 jobs at its Nuremberg factory by 2029. The plant has around 1,800 employees. The job cuts in Nuremberg are to be in addition to the already announced reduction of 22,000 employees across the group. The majority of this affects the mobility sector.
At the end of the first half of 2026, Bosch already had around 6,500 fewer employees than at the end of 2025. Last year, the company was in the red after taxes for the first time since the financial crisis and reported a loss at the bottom line. In the first half of 2026, sales increased by 3.6 percent to 46.4 billion euros compared to the same period last year.

Despite the Iran war, the German chemical industry is experiencing a short-term boom due to increased demand due to supply chain bottlenecks in Asia, while BASF is planning to take over Evonik and both companies are cutting thousands of jobs. Experts warn of relocation to China and the USA and a threat to the supply of critical goods and are calling for strategic reserves and energy infrastructure expansion.

The article deals with several financial topics: new corporate bonds with yields of over four percent, a study on the financial feasibility of socializing apartments in Berlin, forecasts by the finance agency for record debts in 2027, warnings from a rating agency that expropriation plans could endanger the creditworthiness of companies, and concerns from investors in the German bond market.

According to insider information, Evonik rejected a takeover offer from BASF worth 22.15 euros per share because it was considered too low. The offer corresponds to a premium of around 28 percent on the share price before the speculation and values the company at around 14 billion euros including debt. BASF emphasizes that a takeover would strengthen its core businesses, while the RAG-Stiftung and unions express concerns about location and job security.
Russia has placed the Russian business of the German trading group Metro AG under receivership. The Russian management company Torg RUS temporarily manages 100 percent of Metro's assets in Russia. After the Russian attack on Ukraine, Metro remained in the country out of consideration for employees and customers and still operates 91 stores in Russia. The company did not comment directly on the decree, while its Russian subsidiary confirmed normal operations.
The IGBCE expressed skepticism about BASF's takeover offer for Evonik and emphasized that a mere increase in size does not create future prospects for locations and employees. The RAG Foundation holds almost 44 percent of Evonik shares.

The yield on ten-year US government bonds reached over 5.2 percent at the end of September, the highest level since 2007. An analysis by Handelsblatt shows that the reaction of the stock markets to high bond yields is complex and depends on factors such as the economy, monetary policy and corporate profits, not just on the level of yield alone.