Other automotive companies such as Volkswagen and Mercedes-Benz have also announced job cuts. On Tuesday, German press agency DPA reported that the Bavarian Motor Works (BMW) plans to cut around 8,000 jobs worldwide from October this year till the end of 2027 in a cost-cutting drive. RELATED:Why Germany Failed in UN Security Council Membership RaceBMW expects the restructuring to result in around 1 billion euros (US$1.14 billion) in one-off costs, including voluntary severance payments for employees in non-production roles in Germany. BMW is the latest of Germany’s major carmakers to announce job cuts, following similar moves by Volkswagen and Mercedes-Benz. Earlier this week, Volkswagen’s sports car brand Porsche said it would cut a further 5,000 jobs in Germany, bringing its planned domestic workforce reduction to about 8,900.teleSUR/ JFSource: Xinhua