BMW to cut 8,000 jobs in global restructuring

MUNICH – BMW plans to eliminate 8,000 jobs worldwide over the next 18 months as part of a major restructuring aimed at reducing costs and improving competitiveness. The cuts represent nearly 5% of the company's global workforce of 154,000 employees. The layoffs will affect nearly every department except employees directly involved in vehicle production. More than half of the positions to be eliminated are in Germany, with the company expecting to achieve the reductions mainly through natural attrition and voluntary departures.

The restructuring comes as Germany's auto industry faces increasing pressure from Chinese competition and U.S. import tariffs. BMW is expected to release its first-half financial results tomorrow after recently lowering its profit outlook due to weaker-than-expected vehicle sales.