BMW will cut thousands of jobs in Germany by 2027

Headquartered in Munich, BMW currently employs around 150,000 people worldwide. Other German automakers, such as Volkswagen and Mercedes-Benz, have also announced deals to eliminate tens of thousands of jobs. The country's automotive sector is facing pressure due to the high costs of transitioning to electric vehicles, strong competition from Chinese manufacturers and tariffs imposed by the United States. On Monday (27), Porsche, which is part of the Volkswagen Group, expanded its restructuring plan and announced that it intends to reduce around 20% of its workforce by 2035. Also this Wednesday, thousands of workers protested at the Audi factory in Neckarsulm, another Volkswagen Group brand. The unit is among four German factories threatened with closure under the company's restructuring plans. Workers protest at the Audi factory in Neckarsulm, Germany, one of the units threatened with closure due to the restructuring plans of the parent company Volkswagen. Reuters BMW, which until recently was seen as one of the industry's most stable automakers, cut its profit forecast for this year in June, citing lower-than-expected performance in China. Vehicle sales in the country have been falling sharply in recent months. Following this announcement, Chief Executive Milan Nedeljkovic stated that the company would accelerate and intensify its efforts to reduce costs. This Wednesday, during a workers' meeting in Munich, Nedeljkovic told employees that the rules in the automotive sector have changed significantly and, with that, the basis of BMW's business model has also changed, according to a participant at the meeting. The executive warned that the company will face a challenging period, but stated that the measures are necessary to make BMW more profitable, according to the source. The automaker will release its second quarter results this Thursday (30).