theguardian_business

BMW to cut ‘as many as 8,000 jobs’ under pressure from Chinese rivals

📰 source: theguardian_business · 💼 business

bmw plans to cut up to 8,000 jobs in germany through a voluntary redundancy programme targeting administration and development, with production workers excluded. the company has a total workforce of about 160,000. the cuts come as european carmakers face intense pressure from chinese rivals, who have quickly dominated the electric vehicle market and launched a price war in china. bmw is also navigating the transition from petrol to electric vehicles and the impact of us tariffs. other manufacturers are making similar moves: volkswagen is cutting up to 100,000 jobs and closing four factories, porsche added 5,000 job cuts to reach 9,000 by 2035, and aston martin reported a widening loss to £89m in q2 2026 despite higher revenues.

why it matters: bmw's job cuts signal deepening crisis in european auto industry as chinese ev makers gain market share and tariffs reshape trade.

source: theguardian_business
sentiment: -0.50 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects