Berlin: German automotive and technology giant Bosch is preparing to cut a substantial number of jobs worldwide as part of a renewed cost-cutting and efficiency drive. According to Handelsblatt, the company is considering a "five-digit" reduction in its workforce, signaling one of the most significant job cuts in Bosch’s recent history.
The decision comes amid growing challenges in the global automotive sector. Bosch faces declining demand in key markets, increasing trade barriers, and rising operational costs. Earlier this month, Bosch CEO highlighted that the company would continue to operate under intense price competition and is forecasting only modest revenue growth of approximately 2% for 2025, a slight increase from its €90.5 billion ($106 billion) turnover in 2024.
Bosch employs roughly 418,000 people worldwide, making this announcement particularly impactful. While the company has not officially confirmed the exact number of job losses, labor representatives in Germany have already warned that 8,000 to 10,000 positions in the country could be affected. The firm is expected to provide further details in an upcoming press briefing.
The planned workforce reduction also reflects broader trends in the automotive and manufacturing sectors, where companies are increasingly focusing on automation, efficiency, and restructuring to maintain competitiveness. Despite some positive developments, such as the U.S. reducing tariffs on EU auto imports, trade barriers and economic uncertainties continue to challenge European manufacturers.
For employees and communities dependent on Bosch’s operations, the announcement raises serious concerns about job security and economic stability. Analysts suggest that Bosch’s move may trigger similar cost-cutting measures across other European automotive suppliers facing comparable pressures.
The developments at Bosch underscore the fragility of the global automotive industry, highlighting the ongoing need for companies to adapt swiftly to economic fluctuations, market demands, and geopolitical uncertainties.