The outlook for BMW continues to deteriorate, with Bloomberg reporting that the automaker will begin a sweeping workforce restructuring in Germany this fall. Voluntary departures in Germany are expected to account for most of the roughly 8,000 positions BMW plans to eliminate globally, equivalent to about 5% of its workforce. BMW also is looking to streamline its management ranks in the coming months as part of the broader cuts, they said. The job reduction program will begin in October and run through 2027, with BMW anticipating a boost in profitability in 2028. Asumendi called the downgrade a "radical earnings cut" but noted that BMW is generally executing well.