Again bad news for Germany as a business location! Given the difficult market situation, De Bosch Group is planning further cancellations at individual locations. The group has difficulty switching to e-mobility.
“We will not be able to avoid further cutbacks,” said Bosch -Baas Stefan Hartung of the “Stuttgarter Zeitung” and the “Stuttgarter Nachrichten” on the weekend.
He justified this in the leaves with the weak global economy in the automotive sector, the growing competition of China and the uncertainty of consumers.
The problem with e-mobility
The transformation from the combustion engine to the electric drive will also lead to a considerable loss of jobs, Hartung said in the conversation. However, it has a positive effect that e-mobility does not come as quickly as expected. As a result, the existing combustion production could be used longer.
Moreover, many employees would retire before the transformation disappeared. Only demographic development will not solve the subject. There is no way to have e-Kobility and the company in Gerlingen will also be involved in Stuttgart.
Clear profit distribution last year
According to provisional figures, the profit before interest and taxes (EBIT) in Bosch was demolished last year by a third to 3.2 billion euros. In 2023, Bosch still had an operational profit of 4.8 billion euros in the books. Turnover fell by one percent last year to 90.5 billion euros. According to Hartung, the group had stayed behind his goals.
At the end of 2024, the Bosch group had 417,900 employees worldwide and therefore 11,500 less than a year earlier. In Germany, the number of employees fell by 4400 to 129,800 (minus 3.3 percent). For more than a year, the company has been repeatedly known that jobs want to remove in different areas. Towards the end of 2032, more than 12,000 jobs could be eliminated worldwide. In Germany, 7,000 jobs were hit, said the end of January.
Bosch promises improvement
Despite persistent difficult circumstances, the group wants to improve the turnover and profit in 2025 again. A concrete prediction is expected in May. Then Bosch also presents the full and certified year.
According to the newspapers, Hartung looks carefully optimistic about the current year, which he mentions a transition year in which “a turn will hopefully be visible”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
