BMW Job-Cuts: layoff for 8100 employees: Finance Trading Times

BMW Job-Cuts: layoff for 8100 employees

The bad news is not stopping for the employees in various sectors. After Siemens which is heading for around 7000 job cuts, It’s time for auto major BMW to announce a job cut or layoff.
As per the news, BMW, the auto major of Germany, may be scrapping 8100 jobs. In India, it was TCS which went for a TCS layoff following TCS salary cuts. Then it was IBM which axed 700 jobs across all over India. Then, it was the turn of British Petroleum (BP) and Virgin to go for a job cut in UK. And now, it’s Siemens which is heading for a massive job cut.

As per the news: BMW announced on Wednesday that it was cutting off 8,100 jobs, as the rising euro pushed the company into the kind of tough cost-cutting it had resisted.

Even as rivals like Mercedes-Benz and Audi eliminated jobs and reduced operations, BMW avoided layoffs. That put pressure on its profit margins but burnished its image in Germany as a desirable employer.

The company — whose cars have sold particularly well in the United States — has responded quickly to global trends, notably the rising price of raw materials and exchange rate volatility, largely through hedging.

About 2,500 full-time employees will have to leave BMW in Germany, while about 600 elsewhere — mainly in the global sales network — will be laid off. About 2,500 temporary workers in Germany have already left, and BMW said that 2,500 more would follow by the end of the year. . Table of Contents
Have Comments or Questions? Please post them as comments using "Post our Comments" link below. Your queries will be responded for free in 24 hrs!

0 Comments: Post your Comments

Wish you all happy and fruitful trading and investing activities with safety! = = = Post a Comment

Copyright Information:
© Finance-Trading-Times.com
Please see Our Copy Right Policy. All the articles, posts and other materials on this website/blog are copyrighted to the author of this site. The content should NOT to be reproduced on any other website or through other medium, without the author's permission. Contact: contactus(AT)finance-trading-times.com

DISCLAIMER: Before using this site, you agree to the Disclaimer. For Any questions or comments, please mail contactus(AT)finance-trading-times.com.

About UsAdvertise with UsCopyRight Policy & Fair Use GuidePrivacy PolicyDisclaimer