Bosch to Cut 13,000 Jobs to Save Billions in Costs

Bosch is set to cut 13,000 jobs as part of its plans to save €2.5 billion (£2.06 billion), BBC News reported.

In addition to the job cuts, the company said it would decrease investments in its production facilities and buildings after seeing a “sharp decline in demand.” (Photo: Bosch Professional Power Tools and Accessories Facebook)

The engineering giant said the cuts, in its mobility division in Germany which provides vehicle parts and software, came as a result of a stagnated market and pressure from rival companies.

The market has seen increased competition from the likes of Tesla and China’s BYD.

It also blamed higher costs arising in part from US President Donald Trump’s tariffs.

Bosch said there was a “cost gap” of €2.5 billion (£2.06 billion) in its auto business and it would “reduce costs at all levels as quickly as possible.”

In addition to the job cuts, the company said it would decrease investments in its production facilities and buildings after seeing a “sharp decline in demand” for its products.

As of December 2024, the firm had a 418,000-strong workforce globally.