The gloomy news for the German automotive industry is coming thick and fast. The next giant to announce heavy savings is BMW. According to information from Bloomberg, around 8,000 jobs will be affected by the new savings package, which is due to be presented later today. However, the severance pay offer will primarily be directed at employees in, among other areas, the company's development department and not at factory workers themselves.
BMW had just over 87,000 employees in Germany at the turn of the year, but like many other European manufacturers, it is struggling with increasingly fierce competition from China. In addition, US tariffs have hit the manufacturer hard.
