Keenfinity cuts one-fifth of former Bosch Security Systems in Eindhoven

At the Eindhoven branch of Keenfinity, formerly Bosch Security Systems, about fifty jobs will be lost, one-fifth of the local workforce. The layoffs follow the announcement in September of a broader plan to reorganize the Munich-based company into four independent business units. According to the newspaper Eindhovens Dagblad, Dutch trade unions are unpleasantly surprised and suspect the restructuring to be the precursor to a (re)sale.

Earlier this year, Bosch sold its security and communications business to the Swedish investor Triton for 700 million euros, after which it was renamed to Keenfinity. The divestment included the video surveillance activities in Eindhoven. This branch, which the Germans themselves acquired from Philips in 2002, is about to move from Strijp-S to a brand-new building at Strijp-T.