BMW Looks to Add Incentives to Workers to Help Cut 5,000 Jobs
- German carmaker is struggling to persuade employees to leave
- Carmakers are cutting thousands of jobs amid Covid-19 slowdown
BMW shut most of its factories in April, before restarting them earlier this month.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
BMW AG is negotiating with unions about giving more incentives to workers to persuade them to leave, helping the carmaker reach a target of eliminating about 5,000 positions.
The German firm has been unable to meet its headcount-reduction goal with existing measures, Chief Financial Officer Nicolas Peter said in an internal posting confirmed by the company. Those have included placing employees on unpaid leave and reducing working hours for those on shorter contracts.