BMW to cut 8,000 jobs in Germany in AI overhaul
BMW announced plans to cut around 8,000 jobs in Germany as part of a restructuring aimed at reducing costs and enhancing competitiveness. This move comes amid weak demand and increased competition, particularly from Chinese automakers. The company aims to achieve an automotive EBIT margin of 3% to 5% by 2028 and return to its long-term target of 8% to 10% by the early 2030s.