Bosch to cut 13,000 jobs to bring down costs in tough autos market

In a statement on Thursday, Robert Bosch from Germany will cut 13,000 jobs while fighting high costs and pressures from competitors who leave $ 2.5 billion euros ($ 2.9 billion) annually. He said that the company had previously been weak in demand and that trade barriers have already worsened a challenging economic environment and expects to “fight in every penny” in a cut market.

Bosch said he wanted to reduce costs as quickly as possible. In addition to business cuts, it wants to reduce material and operating costs, reduce investments in facilities and buildings, and facilitate logistics and supply chains.

He said he would cut jobs in various German places in various timelines by the end of 2030. He said that the management and sales have been in development and production due to a significant excessive capacity and demand decrease in demand for a while.
“We need to work on our competitiveness in the mobility industry and continue to reduce our costs permanently,” said Stefan Grosch, a member of the Board of Directors and Industrial Relations Director. He said. “This is very painful for us, but unfortunately there is no way around.”

CEO Stefan Hartung told Reuters that this month would be “structural adjustments”, and that Bosch’s revenues will grow from last 90.5 billion euros to 2025 in 2025.

Last year, Bosch globally had about 418,000 employees. A Reprieve for Europe’s automobile industry confirmed that Washington has implemented the US trade agreement with the European Union on Wednesday and that a 15% task rate for EU cars and automobile parts decreased on August 1, but Germany’s VDA Automobile Industry is still a difficulty and the EU’s transatlantic trade conditions should be forced to improve its transatlantic trade conditions. “Geopolitical developments and trade barriers, such as tariffs, lead to significant uncertainty – like all companies, we must deal with it,” Markus Heyn, the chairman of another BOSCH Board of Directors and the Department of Mobility. He said. He continued: “Competition intensity is expected to continue to increase significantly.”