German automaker BMW will cut thousands of jobs by the end of 2027 through a voluntary redundancy program, as reported by POLITICO citing a company representative.
Company sources indicate that up to 8,000 jobs are set to be eliminated under this program. Offers for voluntary redundancy are expected to begin arriving as early as October.
A company representative stated that the program will affect employees in Germany who hold administrative roles and work in research and development departments. The voluntary redundancy program, which includes compensation and has been discussed with the employee council for six weeks, will be presented to employees in Munich this week.
A wave of cuts in the automotive industry
The job cuts at BMW are the latest in a series of layoffs announced in the automotive sector. Notably, Volkswagen is expected to cut 100,000 employees and close several plants.
Porsche is reducing its workforce by 5,000 employees, while Mercedes is contemplating its own staff adjustments. Earlier this year, BMW had already warned of necessary staff reductions after lowering its annual profit forecast due to weak sales in China.
Source: Politico
