BMW is cutting 8,000 jobs and handing its cars’ brains to Qualcomm
BMW had two messages for staff this week. It is cutting about 8,000 jobs. And it is handing the brains of its future cars to Qualcomm for the next decade.
The German carmaker will shed the roles in Germany by the end of 2027 through a voluntary redundancy scheme, Reuters reported. The cuts hit administration and development. Production is spared.
China is the trigger
The pressure is coming from the east. BMW’s sales in China fell 30% in the second quarter, the Wall Street Journal reported. It cut its profit forecast in June. New chief executive Milan Nedeljković told staff the rules of the industry had “substantially changed.” So had the foundation of BMW’s business.
It is not alone. Volkswagen is weighing tens of thousands of cuts. Mercedes has struck its own deals, and Porsche is shedding a fifth of its staff by 2035. The EV shift, Chinese...
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