Overview
- The world's largest auto supplier targets about €2.5 billion in yearly savings for its automotive arm.
- Reductions focus on Mobility sites in Feuerbach, Schwieberdingen, Waiblingen, Bühl and Homburg.
- Management cites weak European demand, slower EV and autonomous growth, and fierce price competition in China that is shifting orders outside Europe.
- The cuts equal roughly 10% of Bosch’s German workforce and about 3% of its global staff, after a prior 11,500 reduction last year from about 418,000 employees.
- Bosch will also lower material costs and boost productivity, including with AI tools, to move margins toward roughly 7% from 3.8% last year.