BMW announces negotiations with employee representatives after a profit warning and efficiency measures. The weakness of the Chinese market and rising costs are affecting the company.
Lara Maior
Economy
SirichaiKeng / Shutterstock.com
Always see our news on Google
BMW and employee representatives are preparing for negotiations, after the German car manufacturer issued a profit warning and announced streamlining measures. This is the third profit warning in three years, with the weakness of the Chinese market as the main factor. The company is facing cost pressures due to conflicts in the Middle East and rising energy prices. Analysts suggest that BMW could reduce the number of employees in Europe and relocate production to North America and China. Although it has not announced massive layoffs, BMW estimates a reduction of the global workforce by up to 5% by 2026, mainly through natural departures. BMW's shares have hit a historic low, and challenges in China and competition from electric vehicle manufacturers are affecting the European automotive industry.
Sources
Latest News
19:09
Illegal transport of lambs in Alba: 41 animals missing. ANSVSA warns of a "major epidemiological risk"
19:03
A mountain guide is being investigated for manslaughter and bodily harm due to negligence, following an accident in which one person died and three others were injured.
18:50
New EU states do not have a national anti-fraud strategy and are not preparing one.
18:49
A victory for Marine Le Pen could put France in conflict with the EU over the budget, enlargement, and energy.
18:41
A report estimates that Palantir paid under 21.7 million dollars in corporate tax on earnings of 1.66 billion and is moving European profits to the USA.
See more news
NEWS ON THE SAME TOPICS
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
.webp)
