BMW to cut ‘as many as 8,000 jobs’ under pressure from Chinese rivals

BMW is planning to cut as many as 8,000 jobs in Germany, according to reports, in the latest sign of Europe’s largest carmakers reducing costs under pressure from Chinese rivals. The Munich-headquartered company has started a voluntary redundancy programme agreed with employee representatives, a BMW spokesperson said on Wednesday. The company and its ​works council had agreed a severance ⁠programme targeting the administration and development ​divisions, the spokesperson said. Production operations are excluded. BMW’s total workforce is about 160,000. Germany’s carmakers have come under intense pressure in recent years with…