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Updated · The Guardian · Jul 29BMW Plans Up to 8,000 Germany Job Cuts as Chinese Rivals Intensify Cost Pressure
3 articles · Updated · The Guardian · Jul 29Summary
- BMW has begun a voluntary redundancy program in Germany that could eliminate as many as 8,000 jobs, according to reports cited Wednesday.
- The cuts target administration and development roles under a severance deal agreed with the works council, while production operations are excluded.
- BMW spokesperson said the program was negotiated with employee representatives as the carmaker moves to reduce costs.
- About 160,000 people work at BMW overall, making the planned reductions a significant restructuring step for Germany’s largest automaker.
- The move adds to signs that Europe’s biggest carmakers are trimming expenses as competition from Chinese rivals intensifies.
Insights
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