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BMW’s Electric-Car Savings Push to Lower Staff Bonuses

  • New CEO maps out streamlining plans at staff meeting in Munich
  • BMW joins Audi with overhaul amid surging costs for new tech
Bloomberg business news
BMW's Schwarzenbauer on Electrification, Car Sharing, Auto Tariffs
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BMW AG will reduce bonus payments for employees in Germany as the luxury-car maker grapples with the costly shift to electric and self-driving vehicles.

While BMW’s efforts lack the bite of drastic cutbacks outlined by rival Audi, they reflect the growing pressure facing Germany’s horsepower-focused brands to adapt to a new automotive era.