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BMW Confirms 8,100 Job CutsBMW, the biggest premium carmaker, is to cut more than 8,000 jobs as it attempts to make radical savings. The German carmaker gave warning that if the euro continued to strengthen above $1.50 it would need to take “further measures” on labour costs. About 2,500 permanent jobs and 5,000 temporary positions will go in Germany. BMW wants to eliminate a further 600 permanent jobs overseas as it tries to make annual cost savings of €500 million (£380 million) immediately and a total of €6 billion by 2012. &&&§ionName=IndustrySectorsTransport,mywindow,menubar=0,resizable=0,width=615,height=655); Related Links BMW blames congestion charge for loss of business in London BMW steers talks over sale of Rover name to Chinese BMW cautious despite sales boost from MiniBMW said in December that it would need to restructure to turn around its profitability. Of BMW’s 28,000 overseas employees, the 600 job cuts are likely to fall at its sales subsidiaries. Ernst Baumann, the carmaker’s head of human resources, said: “Temporary workers are not employed by us but by their respective employment agencies. There they will keep their jobs because the current market has a high demand for temporary staff.” The carmaker is also to increase flexible working across its operations, including partial retirement and working time accounts so that it can increase employment in busy periods and scale back when production needs subside. The group said that it needed to boost its productivity per worker. BMW will announce its annual profits on March 18. Last year pre-tax profit excluding exceptional items increased 3 per cent to €4.12 billion. Tag CloudExternal InformationAdditional InformationEconomix: Truth, Fiction and Lou Dobbs...Tiffany and eBay in Fight Over Fakes... Condé Nast to Close Jane, Ending Effort at Revival... Telepresence TV... Where Am I?News Main Page - Business - BMW Confirms 8,100 Job Cuts |
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