BMW reduces 6,000 jobs through 'natural fluctuation'

Friday, 19. June 2020 15:50

German carmaker BMW said on Friday it plans to drop 6,000 jobs through early retirements and turnover, due to a drop in demand caused by the COVID-19 pandemic.

A spokesman for the group told AFP that around 6,000 working places will be reduced through "natural fluctuation" and voluntary early retirement.

The company lowered earlier its 2020 guidance saying it expects earnings before interest and taxes (EBIT) margin for its automotive segment to be in the 3%-5% range.

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Breaking the News / TF