Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

German car parts maker Bosch to cut up to 1,100 jobs

Published by Global Banking and Finance Review

Posted on July 22, 2025

Featured image for article about Finance

FRANKFURT (Reuters) -German car parts maker Bosch will cut up to 1,100 jobs by 2029 and restructure its Reutlingen plant as a rapidly worsening auto market drives down sales, a senior company official said on Tuesday.

Bosch will focus the plant mainly on manufacturing semiconductors, as making electronic control units is no longer competitive, a statement said.

"The European market for control units is highly price-driven and fiercely contested by new entrants," said Bosch's executive vice president of semiconductor operations, Dirk Kress.

"The necessary job cuts are not easy for us, but they are urgently needed to secure the future of the site."

Bosch employs around 10,000 people in Reutlingen.

German and European auto makers have come under pressure from high costs and ferocious foreign competition, as well as a tariff war between the United States and its global trading partners.

(Reporting by Ilona Wissenbach, writing by Matthias Williams, editing by Rachel More and Thomas Seythal)