Bosch to cut 13,000 jobs to save billions in costs
6 hours ago
- #Job Cuts
- #Bosch
- #Automotive Industry
- Bosch plans to cut 13,000 jobs to save €2.5bn (£2.06bn) in costs.
- Job losses are in the mobility division due to market stagnation and competition from Tesla and BYD.
- Increased costs partly attributed to US tariffs under Donald Trump.
- Bosch aims to reduce costs across all levels and decrease investments in production facilities.
- No UK jobs affected, but operations will be continually assessed based on demand.
- Administrative, sales, development, and production roles in Germany will be impacted.
- German car industry faces decline amid foreign competition.
- Bosch cites global economic challenges and high costs as reasons for job cuts.
- Discussions with affected employees to begin immediately.