Bosch To Cut Over 8,000 Jobs Amid Automotive Industry Challenges

German industrial giant Bosch plans to cut approximately 8,250 jobs globally in its Mobility sector over the coming years, CNN reported.

The cuts represent nearly 2% of Bosch’s 429,000-strong workforce. I Photo: Bosch Autoparts

The cuts, representing nearly 2% of Bosch’s 429,000-strong workforce, are part of a response to declining demand, high costs, and stiff competition in the automotive supply market.

“We face major challenges in a difficult economic environment,” Bosch stated.

Bosch's Mobility division supplies parts to automakers, while the company also produces consumer goods like refrigerators and coffee machines.

The announcement adds to economic pressures on Germany, as manufacturers struggle against Chinese competition, high labor and energy costs, and geopolitical challenges stemming from Russia’s 2022 invasion of Ukraine.