BMW to cut thousands of jobs
BMW has announced it will axe several thousand jobs in Germany by the end of next year under a voluntary redundancy programme.
The severance package focuses on administration and development roles, with production operations excluded, a company spokesperson says.
Reports suggest about 8,000 of the firm’s more than 87,000 employees in Germany will lose their roles before the end of 2027. The Munich-based group’s global workforce totals around 150,000 people.
The changes come soon after BMW lowered its profit outlook for the current year after citing weaker-than-expected sales in China, reports Automotive News.
China is BMW’s largest single market and rising competition from local brands is proving a challenge for all carmakers.
Volkswagen Group, which owns the VW, Audi and Porsche brands, announced in June that more than 28,000 employees are set to leave the company through to 2030.
BMW reportedly expects its voluntary redundancy programme to increase profitability in 2028.
