BMW CFO Wants To Cut 5,000-6,000 Jobs By 2022
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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.
In August, Oliver Zipse succeeded Harald Krueger to became chief executive officer, leaving vacant the production role he had overseen.
On Wednesday, BMW announced that Milagros Caina Carreiro-Andree, the board member in charge of human resources, would not seek a new term, citing personal reasons.
Questions & Answers
Q.Which specific areas of the company are expected to be most affected by the proposed job cuts?
Which specific areas of the company are expected to be most affected by the proposed job cuts?
The finance chief's plan to cut between 5,000 and 6,000 jobs by 2022 is primarily focused on the carmaker's Munich headquarters. The report did not specify other departments or locations that would be impacted.
Q.Why is BMW undertaking a shakeup of its top management positions?
Why is BMW undertaking a shakeup of its top management positions?
The article states that BMW has been undergoing a shakeup of top managers. It mentions Oliver Zipse succeeding Harald Krueger as CEO and the board member for human resources not seeking a new term due to personal reasons.
Q.Who are the potential new leaders for human resources and production at BMW?
Who are the potential new leaders for human resources and production at BMW?
Ilka Horstmeier is reportedly a favourite to head human resources, and Milan Nedeljkovic is expected to take over as head of production. These appointments would fill key leadership roles within the company.
Q.What is the reason behind Milagros Caina Carreiro-Andree's departure from her human resources role?
What is the reason behind Milagros Caina Carreiro-Andree's departure from her human resources role?
Milagros Caina Carreiro-Andree, the board member in charge of human resources, will not seek a new term. She cited personal reasons for this decision, as announced by BMW on Wednesday.
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