German automaker BMW BMW, -0.31% revealed plans to cut 6,000 jobs on Friday as it grapples with the impact of the coronavirus pandemic.
The car manufacturer said it had reached an agreement with the German Works Council, which reportedly involves a mix of redundancies, early retirement and opting not to renew temporary contracts or refill vacancies. The car manufacturer has also put on hold its automated driving alliance with Daimler’s DAI, +0.04% Mercedes-Benz.
Car sales have plunged in recent months and the industry’s major players have halted production as a result of the Covid-19 crisis. New car sales in Germany fell 50% in May compared with the previous