International

BMW to drop 6,000 jobs through turnover, early retirement

MUNICH, GERMANY - MARCH 07: A logo of German automaker BMW in seen during the celebration marking the 100th anniversary of BMW on March 7, 2016 in Munich, Germany. BMW began as a producer of aircraft engines in Germany during World War I, later began producing motorcycles and in 1928 its first automobiles. BMW AG is the parent company of BMW Group, which also owns the car brands Mini and Rolls-Royce. (Photo by Lennart Preiss/Getty Images)

FRANKFURT, Germany (AP) — Automaker BMW says it will drop 6,000 jobs through early retirements and turnover, as the auto industry adjusts to a sharp drop in demand due to the coronavirus outbreak.

The Munich-based maker of the X5 SUV and 3-Series sedan said Friday that it had agreed pn the measures with employee representatives. Ways of reducing positions could include settlements with employees who are already near retirement, while younger people could get financial support for further full-time higher education with a guarantee of a job when they are done.

The job reductions represent just under 5% of BMW’s global workforce of 126,000. Demand for new cars has slumped in Europe and other global markets amid a sharp economic slowdown due to the virus outbreak.

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