BMW Plans to Cut 8,100 Jobs to Raise Profits

The Munich-based company said today in a statement that it plans to cut a total of 8,100 jobs in order to raise profitability. In particular, BMW intends to eliminate 5,000 temporary and 2,500 permanent positions in Germany along with 600 permanent positions abroad.
The job-cuts are part of BMW’s five-year savings plan that was announced last September by CEO Norbert Reithofer. The Bavarian carmaker plans to achieve a return on sales as much as 10 percent by 2012, which is similar to Daimler's 2010 goal for its Mercedes-Benz Cars unit.
Via: Bloomberg
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