BMW announced a restructuring plan centred on AI, management cuts and new models after profit warnings and a share slump. About 8,000 jobs in Germany will go, joining Volkswagen and Mercedes-Benz in cost-cutting. The automaker targets a 3-5% automotive margin by 2028 and 8-10% by the early 2030s.
BMW unveils AI-driven recovery plan, cuts 8,000 jobs
Source: Telegraph India