BMW warns on profits as it counts cost of plan for 8,000 job cuts

German carmaker slashes profit margin to between -0.5% and 0.5% this year in face of competition from China The German carmaker BMW has issued its second profit warning in a year, blaming the costs of a restructuring programme including significant job losses in the face of continuing competition from China. The company is the latest to issue a profit downgrade in the German car sector, with…

First reported by The Guardian 1 hr ago1 source

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The Guardian11:581 hr ago
BMW warns on profits as it counts cost of plan for 8,000 job cuts (opens The Guardian in a new tab)
German carmaker slashes profit margin to between -0.5% and 0.5% this year in face of competition from China The German carmaker BMW has issued its second profit warning in a year, blaming the costs of a restructuring programme including significant job losses…