Bosch Chairman Warns of Revenue Decline and Potential Job Cuts

Declining Revenue Forecast at Bosch

In a recent interview with *Der Tagesspiegel*, Stefan Hartung, chairman of German auto parts supplier Robert Bosch, warned of a revenue decline in the upcoming year. This statement raises concerns about the health of the auto industry, crucial to Europe’s largest economy.

Job Cuts May Increase

Bosch has already announced 7,000 job cuts in Germany, but Hartung did not rule out further reductions. He emphasized the need for government intervention to bolster the industry as it faces significant challenges.

Challenges in the Auto Industry

The warning from Bosch follows Volkswagen's announcement of a profit drop to a three-year low in the third quarter. Workers are expressing discontent, threatening strikes in response to VW's plans to reduce costs through plant closures and pay cuts.

Financial Outlook

Hartung revealed that Bosch's turnover is projected to fall slightly below last year's €92 billion, with return on sales expected to reach a maximum of 4%, significantly below the company’s initial target of a 2% increase over last year's 5%.

Conclusion

As Bosch navigates these financial challenges, Hartung calls for greater support from the government to stabilize the industry and mitigate job losses, highlighting the urgent need for strategic actions in the automotive sector.