AutoBeta(AutoBeta.net)09/20 Report--

BMW plans to cut 5000 to 6000 employees by the end of 2022, mainly from its headquarters in Munich, Germany, as part of BMW's ongoing cost savings, according to Bloomberg, citing the German magazine Manager. Layoffs will be announced in December.

In response to the report, BMW said, "We are using staff attrition to make the company more focused on the future and more efficient." At the same time, the company will continue to recruit talent in areas such as self-driving and electric cars.

The decision is part of BMW's cost-cutting plan. In March, BMW Group launched a cost-cutting plan of 12 billion euros, and BMW said it would achieve faster and more streamlined processes and structures to improve efficiency. In addition, due to the cost of inspection, BMW Group plans to eliminate the resulting models and reduce the research and development time to 1/3. Peter, chief financial officer of BMW Group, said: "the automotive industry is undergoing rapid transformation and sustained high profit margins are essential if we are to continue to drive change."

According to the financial data previously released by BMW Group, car sales rose slightly by 1.5% to 647000 vehicles in the second quarter of this year, and operating income also increased by 3% to 25.715 billion euros. However, due to BMW Group's increased investment in pure electric and hybrid electric, as well as fuel cell research and development, its pre-tax profit fell 28.4% to 2.053 billion euros. BMW expects pre-tax profits to fall sharply in 2019.

While carrying out cost savings, the senior personnel of BMW have also changed. In July this year, the BMW Group announced that Chipze would take over as chairman of Kruger on August 16; Milagros Kana Andriy, director of human resources, also chose to leave for personal reasons. Ilkka Hosmel is the most popular candidate for human resources director, or take over his position. In addition, Rose Flaurich, a member of the management committee, may leave next summer because he does not want to work with Chipze, but Norbert Rathoff, chairman of BMW's supervisory board, wants him to stay.

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