BMW Cuts 5,600 Jobs
While not making draconian cuts like The Big 2.8, BMW is reducing their work force to lower their overheads. The Detroit Free Press reports that the Bavarian automaker is cutting an additional 5.6k jobs this year. That's in addition to the 2.5k positions they've already eliminated. By the time they're through showing workers the door, Bimmer will have trimmed 7.5 percent of their worldwide workforce. The move comes in response to Chief Executive Norbert Reithofer's commitment to increase the company's "rate of return" ( which made the exec queasy and left the money men a lot less than impressed). Ernst Baumann, BMW's head of personnel, said the job reductions will end-up costing in the "three-digit million" euro range for severance pay, benefits and other expenses. He also warned that if the dollar continues to fall, more employees would get the old heave-ho.
# Redbarchetta : February 28th, 2008 at 11:13 am You would think their cars would be more reliable too with so much robot assembly. robot assembly won't fix software bugs, electrical glitches, design flaws, or wear parts.
Fix your roof when the sun is shining. The falling dollar is really going to screw them. Their SC plant is their only safety net.
Good for those workers that Starbucks and WalMart are hiring in Germany. After all, who needs manufacturing jobs? America doesn't.....................right???????