The German automaker is looking into adding early retirement packages, too.
BMW has been on fire last week. The German automaker launched three new vehicles into its stable: the 5 Series, 6 Series, and X2 – all featuring electrified powertrains.
However, that isn't just the news from Munich. Due to the negative economic effects of the coronavirus pandemic, BMW is seeking to cut 5,000 positions within its employ – a feat that the company is struggling to complete, according to a report by Automotive News Europe.
Gallery: 2021 BMW 5 Series: Debut
The onslaught of the coronavirus outbreak entails diminishing demands for cars, which have already been low since the beginning of the pandemic. This made recovery a tad difficult for car companies, prompting them to cut jobs in order to reduce costs and ultimately, stay afloat until full recovery.
The news about the struggle with the headcount-reduction goal came from an internal company posting by BMW CFO Nicolas Pete, which the company has confirmed to the publication. The measures include reducing working hours and placing employees on unpaid leaves, but those aren't enough. The company might add early retirement packages as well, per Automotive News Europe's report.
A typical year for BMW means losing 5,000 positions and getting replaced, but this year is especially different since the current employees are thinking twice before leaving their jobs – again, another effect of the pandemic.
BMW isn't the first automaker to cut jobs in order to survive the adverse effects of coronavirus. McLaren announced last week that it has been "severely affected" by these tough times that it had to remove a quarter of its workforce, totaling to 1,200 jobs.