CEO Stefan Hartung indicated the company won’t meet its economic targets and may make further staffing adjustments. Bosch, reporting €92 billion in revenue in 2023, expects a 4% sales return this year,

The chairman of German auto parts supplier Robert Bosch warned on Thursday of declining revenue in the coming year, and said he cannot rule out further job cuts in Germany in addition to the 7,000 it has already announced.

Bosch is planning to lay off 7,000 employees in Germany, mainly in the automotive supply sector, tools division, and BSH subsidiary. Despite aiming for a major acquisition of Johnson Controls worth $8 billion to boost its position in the heat pump and air conditioning industry,

The crisis in the automotive industry is spreading with increasing intensity. According to current reports, Bosch plans to lay off 7,000 employees working in plants in Germany, writes "Rzeczpospolita".