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BMW plans to cut around 8,000 jobs in major cost-saving drive
['Kirsten Ripper', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
BMW will cut several thousand jobs in Germany, becoming the latest major German carmaker to launch a substantial cost-saving programme.
BMW and its works council have agreed a voluntary redundancy programme targeting administrative and development roles, while production will be excluded, a company spokesperson told Reuters.
More than half of BMW's workforce is based in Germany, where the voluntary redundancy programme will operate.
BMW turns to voluntary redundancy programmeBMW does not plan to make compulsory redundancies.
Instead, the company is launching what the German media described, citing company sources, as the largest voluntary redundancy programme in its history.