Bosch plans to cut more than 12,000 jobs worldwide

German industrial giant Bosch recently announced that it expects to cut more than 12,000 jobs worldwide by the end of 2032, including about 7,000 jobs in Germany. The main reasons for the layoffs are the sluggish global auto market, fierce competition from China, and a lack of consumer confidence. At the same time, the auto industry is in the process of transitioning from fuel vehicles to electric vehicles, which has also led to the loss of a large number of traditional jobs.