German engineering giant Bosch has announced plans to cut 13,000 jobs in its mobility division as part of a sweeping cost-saving initiative aimed at reducing expenses by €2.5 billion (£2.06 billion). The company said the decision was driven by a stagnating global vehicle market, intensifying competition from electric vehicle manufacturers such as Tesla and China’s…
German industrial powerhouse Bosch has revealed plans to slash approximately 8,250 jobs globally over the coming years, marking yet another setback for Germany’s struggling economy. The job cuts will primarily affect Bosch’s Mobility sector, which supplies parts to automakers worldwide. The company cited sluggish demand, rising costs, and growing competition as key reasons behind the…
Stellantis, the owner of Vauxhall, is suing Continental, a tyre maker, and Bosch, a car parts maker, over allegations of historical price-fixing. The lawsuit follows an EU ruling which found that Bosch, Continental and other firms had formed a cartel, suspected of colluding to fix prices for electronic brake and steering systems. As part of…
