Next bombshell
BMW Plans to Cut 8,000 Jobs Worldwide
The shake-up in the automotive industry continues. As was announced on Wednesday, German automaker BMW plans to cut approximately 8,000 jobs worldwide.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen According to reports, this will be achieved through natural attrition and a voluntary severance program. Employees in administration, development, and management are likely to be most affected.
Speculation Since June
Speculation that BMW is planning a job-cutting program has been circulating since mid-June. At that time, Milan Nedeljkovic—who had been promoted from head of production to CEO just one month earlier—was forced to issue a significant profit warning.
At the time, the company also stated that it would “intensify and accelerate ongoing cost reductions through further structural and efficiency measures.” The Bavarian automaker also operates a plant in Steyr, Austria, and works with Austrian automotive suppliers.
Even BMW Cannot Escape the Global Downturn
For a long time, BMW was the last major German automaker to avoid a large-scale job-cutting program. Volkswagen, Mercedes, Audi, and Porsche—all had already announced job cuts last year—in some cases on a much larger scale. And within the VW Group, discussions are already underway regarding a second round of cuts—with numbers running into the tens of thousands. Just this week, the subsidiary Porsche kicked things off by cutting another 5,000 jobs. Major suppliers are also scaling back.
The entire German auto industry is currently suffering from the slump in the Chinese market and the sharply increasing competitive and price pressures there. Added to this are U.S. tariffs, increasingly fierce Chinese competition on the global market, and, most recently, the impact of the crisis in the Middle East on the global economy. Even BMW cannot escape these challenges, even though the Munich-based company has generally fared somewhat better than its German competitors in recent times.
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