BMW to cut 6,000 jobs and slam brakes on Mercedes self-driving alliance amid Covid-19 impact

[CRSKTN]

BMW to cut 6,000 jobs and slam brakes on Mercedes self-driving alliance amid Covid-19 impact

German automaker BMW revealed plans to cut 6,000 jobs on Friday as it grapples with the impact of the coronavirus pandemic.

www.marketwatch.com

BMW, which employs 126,000 people globally, has made use of a short-time working hours scheme in which the German government partially pays wages for lost hours. The car manufacturer said in May that more than 30,000 employees were working short-time hours.


However, the company said on Friday it needed to take further action in the face of the coronavirus pandemic and its fallout. A BMW spokesman confirmed that 6,000 jobs would be cut, adding that virtually all of those would be in Germany.

 

[mikeavelli]

BMW to cut 6,000 jobs and slam brakes on Mercedes self-driving alliance amid Covid-19 impact

German automaker BMW revealed plans to cut 6,000 jobs on Friday as it grapples with the impact of the coronavirus pandemic.

www.marketwatch.com

As long as people want SUVs, the plant here should be safe.

 

[suxeL]

As long as people want SUVs, the plant here should be safe.

I thought all their SAVs are made in america?

 

[Joaquin Ruhi]

I thought all their SAVs are made in america?

Almost. The smallest (X1 and X2) are NOT made in USA. X3 thru X7 are, but only X7 is sourced exclusively from the U.S. The others are additionally built in other countries (China, Egypt, South Africa, Brasil, etc. depending on model).

 

[LexsCTJill]

So it’s interesting that the new BMW three series rides on a whole new platform, yer BMW is cutting jobs in Germany. In contrast Toyota comes up with a heavily refreshed Lexus IS, but Toyota is financially secure and are not cutting jobs. Seems like Toyota knows something, but segments are contracting. Instead of wasting money on platforms that won’t sell, they keep things alive for the short. And no jobs are cut

 

[suxeL]

So it’s interesting that the new BMW three series rides on a whole new platform, yer BMW is cutting jobs in Germany. In contrast Toyota comes up with a heavily refreshed Lexus IS, but Toyota is financially secure and are not cutting jobs. Seems like Toyota knows something, but segments are contracting. Instead of wasting money on platforms that won’t sell, they keep things alive for the short. And no jobs are cut

Well that and maybe the fact Lexus has access to the Toyota piggybank/chequebook...Either way lost jobs are lost jobs sad to hear

 

[Levi]

So it’s interesting that the new BMW three series rides on a whole new platform, yer BMW is cutting jobs in Germany. In contrast Toyota comes up with a heavily refreshed Lexus IS, but Toyota is financially secure and are not cutting jobs. Seems like Toyota knows something, but segments are contracting. Instead of wasting money on platforms that won’t sell, they keep things alive for the short. And no jobs are cut

Right, but who knows what is to come at Toyota. They are late in the horsepower wars, they might be late in job cutting.

 

[CRSKTN]

Look at the TMC reaction to 2008.
They're conservative, but for their own reasons. They also take care of their people.

 

[LexsCTJill]

Look at the TMC reaction to 2008.
They're conservative, but for their own reasons. They also take care of their people.

I don't remember if Toyota cut jobs in 2008. I know they are currently on record for saying they have taken a lot of lessons from the financial collapse Currently Toyota expects to make a profit during the pandemic.

 

[Tragic Bronson]

When Toyota wants to 'cut' employees, they relocate or close the facility. Of course, many employees stayed with the Plano HQ relocation. That was the only major visible one.