Bosch Cuts 22,000 Jobs as Chairman Defends Strategic Decisions

Robert Bosch, the world's largest automotive supplier, is cutting 22,000 jobs in its car division amid a global industry crisis. Supervisory Board Chairman Stefan Asenkerschbaumer attributes the restructuring to stagnating global automobile production, which has not recovered to its 2017 peak, and significant regional shifts, including a 25 percent production decline in Europe. He defends the company's decision not to enter battery cell manufacturing, citing excessive financial risks and limited control over raw material costs. While acknowledging that politicians have a duty to ensure competitive framework conditions, particularly for electromobility infrastructure, Asenkerschbaumer emphasizes that companies ultimately bear responsibility for their own strategic choices. He argues that investing in uncertain future technologies like automated driving was necessary despite missed expectations, stating that inaction would have been a greater error. The company aims to leverage its strong position in vehicle motion management to maintain competitiveness in the evolving mobility sector.