An insider at Bosch China divulged that the company has implemented layoffs affecting close to 200 employees, with the majority of these reductions occurring in fuel vehicle and hydrogen fuel cell projects located in Wuxi. Several affected employees verified that the severance package being offered is an N+4 arrangement. Moreover, they indicated that an even more extensive round of layoffs is anticipated in China this coming June. However, Bosch China has formally refuted these claims, asserting that the actions are part of an ongoing effort to enhance and streamline normal operational management.

It's worth noting that Bosch has previously carried out multiple rounds of layoffs in Germany. The current wave of layoffs in China is being driven by a downturn in the traditional fuel vehicle market, coupled with stiff competition from local manufacturers in China's components industry. This has led to a deceleration in both market share expansion and revenue growth. Amidst a contracting domestic market for traditional fuel vehicles and a lackluster (or unremarkable) edge in the new energy vehicle sector, Bosch China is grappling to maintain its market position.