September 18, 2021

BMW CFO wants to cut 5,000-6,000 jobs by 2022: Manager Magazin


FILE PHOTO: Nicolas Peter, CFO of German luxury carmaker BMW attends the company’s annual news conference in Munich, Germany, March 21, 2018. REUTERS/Michael Dalder

FRANKFURT (Reuters) – BMW’s (BMWG.DE) finance chief Nicolas Peter wants to cut between 5,000 and 6,000 jobs by 2022, mostly at the carmaker’s Munich headquarters, a German magazine reported on Thursday.

Manager Magazin also said that Ilka Horstmeier was a favorite to head human resources, while Milan Nedeljkovic would take over as head of production.

BMW, which declined to comment, has been undergoing a shakeup of top managers.

In August, Oliver Zipse succeeded Harald Krueger to became chief executive officer, leaving vacant the production role he had overseen.

On Wednesday, BMW announced that Milagros Caiña Carreiro-Andree, the board member in charge of human resources, would not seek a new term, citing personal reasons.

Reporting by Tom Sims; additional reporting by Joern Poltz; editing by Thomas Escritt and David Evans

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