Bosch to cut 13,000 jobs to save billions in costs

Bosch plans to cut 13,000 jobs in its mobility division in Germany to save €2.5bn due to market stagnation and competition from companies like Tesla and BYD. The engineering giant also attributes increased costs, in part, to US tariffs. Additionally, Bosch aims to reduce investments in production facilities and buildings due to a sharp decline in product demand, while ensuring UK jobs remain unaffected for now.