Bosch, a leading global automotive supplier and technology company, is reportedly planning a significant reduction in its workforce, according to sources cited in a report by the Handelsblatt. The planned job cuts, described as a “five-figure number” would represent a substantial increase beyond the 9,000 positions previously announced for reduction in Germany.
Earlier this month, Stefan Grosch, Labor Director at Bosch, indicated the company needed to implement cost savings of €2.5 billion. Company insiders now confirm that achieving this target necessitates a workforce reduction of a scale requiring a five-figure number of job losses.
In the prior year, Bosch already reduced employment within its largest division, Mobility, by 11,600 positions globally, including 4,500 in Germany, bringing the total workforce to 230,000. The Mobility division, encompassing automotive components and related technologies, currently accounts for nearly two-thirds of Bosch’s total revenue of €90.3 billion.
Bosch’s diverse portfolio extends beyond automotive technology, encompassing home appliances, power tools, industrial technology and building technology, reflecting the company’s broad technological and manufacturing footprint.