Berlin (Reuters) – The automotive supplier Robert Bosch announced Thursday the abolition of 13,000 jobs on various German sites, over periods spread until the end of 2030, because, he said, a drop in demand and an annual deficit of 2.5 billion euros.

In a statement, Bosch declared wishing to reduce its costs as quickly as possible. In addition to job cuts, the company intends to reduce material and operating costs, reduce investments in facilities and buildings, and rationalize logistics and supply chains.

Last year, Bosch employed around 418,000 people worldwide.

Important overcapacity has existed for some time in administration and sales, as well as in development and production, due to the drop in demand, the group said.

“We must urgently work on our competitiveness in the mobility sector and continue to reduce our costs permanently,” said Stefan Grosch, member of the board of directors and director of industrial relations.

“It is very painful for us, but there is unfortunately no way to escape it,” he added.

Bosch had already declared to expect “fighting for every penny” on a fierce market, while demand remains low and commercial barriers exacerbate an already difficult economic environment.

The Chairman of the Management Board Stefan Hartung told Reuters this month that there would be “structural adjustments”, while providing that Bosch’s revenues would increase by around 2% in 2025 compared to the 90.5 billion euros last year.

“Geopolitical developments and commercial barriers such as customs duties lead to considerable uncertainty – like all companies, we have to face it,” said Markus Heyn, another member of the Bosch board of directors and president of the Mobility activity sector.

“We should expect the intensity of competition continues to increase significantly,” he added.

(Written by Ludwig Burger, Ilona Wissenbach and Matthias Williams; Coralie Lamarque, edited by Kate Entringer)

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