BMW Profit Plunge Amid Job Cuts
Past coverage from 0 countries · Last active Jul 30, 2026
This topic isn't active right now. Last covered Jul 30, 2026. See today's headlines.
BMW reported a profit plunge of over a third in the second quarter, with revenue also declining. The company reached an agreement with its works council on job cuts amidst this downturn and an industry-wide shift, with thousands of administrative and management positions being eliminated in Germany.
BMW Reports Profit Plunge of Over a Third Amidst Sales Slump
- BMW reported a significant profit drop of 35% in the second quarter, earning only 1.2 billion euros after taxes. - Revenue also declined from 34 billion to 31 billion euros, with job cuts of 8,000 previously announced. - The automotive division saw an even steeper decline, with operating profit falling over 60%, leading BMW to earn more from financial services than car manufacturing.
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BMW profits plunge over a third; agreement reached with works council on job cuts
- BMW's profits dropped significantly by 35% in the second quarter, earning 1.2 billion euros after taxes, with revenues also declining. - The automotive division saw an even steeper profit drop of ov…
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- BMW plans to cut approximately 8,000 jobs worldwide, representing over 5% of its global workforce. - The job reductions will occur through natural attrition and a voluntary severance program in Germ…
