BMW CFO wants to cut 5,000-6,000 jobs by 2022: Report
Thursday, September 19, 2019, 8:12 PM
BMW's finance chief Nicolas Peter wants to cut between 5,000 and 6,000 jobs by 2022, mostly at the carmaker's Munich headquarters, a German magazine reported on Thursday. Manager Magazin also said that Ilka Horstmeier was a favourite to head human resources, while Milan Nedeljkovic would take over as head of production. BMW, which declined to comment, has been undergoing a shakeup of top managers.
Thyssenkrupp to leave Germany's blue chip index DAX, MTU Aero joins
Friday, September 6, 2019, 8:27 AM
Thyssenkrupp AG will drop out of Germany's benchmark stock index this month, the stock market operator said, the latest setback for the ailing conglomerate's turnaround efforts. Thyssenkrupp will leave the DAX on Sept. 23 and will be replaced by aircraft engine maker MTU Aero Engines AG , making it the second founding member to exit the 30-member index in the past 12 months.
BMW second quarter hit by rising costs of manufacturing, emissions
Thursday, August 1, 2019, 8:09 PM
BMW stuck to its outlook even as second-quarter earnings fell 20%, hit by currency headwinds and the rising cost of manufacturing electric and hybrid cars to help the carmaker meet stricter emissions limits. The company said its EBIT fell to 2.2 billion euros ($2.4 billion) in the quarter as stricter carbon emission legislation due in 2021 forces carmakers to invest to build lower-emission vehicles.