Visit our new Alternative Investment section.Click here

Less Ads, More Data, More Tools Register for FREE

UPDATE 1-BMW CFO wants to cut 5,000-6,000 jobs by 2022 - Manager Magazin

Thu, 19th Sep 2019 15:02

* Ilka Horstmeier a favourite to head human resources -magazine

* Milan Nedeljkovic to take over production - magazine(Updates with no comment from BMW, background)

FRANKFURT, Sept 19 (Reuters) - BMW's finance chiefNicolas Peter wants to cut between 5,000 and 6,000 jobs by 2022,mostly at the carmaker's Munich headquarters, a German magazinereported on Thursday.

Manager Magazin also said that Ilka Horstmeier was afavourite to head human resources, while Milan Nedeljkovic wouldtake over as head of production.

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

In August, Oliver Zipse succeeded Harald Krueger to becamechief executive officer, leaving vacant the production role hehad overseen.

On Wednesday, BMW announced that Milagros CaiñaCarreiro-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)

Related News

Auction Technology ups outlook as hails cash flow; adjusted profit up
3 mins ago

Auction Technology ups outlook as hails cash flow; adjusted profit up

(Alliance News) - Auction Technology Group PLC on Thursday announced higher adjusted pretax profit amid a jump in interim revenue as it upgraded its a...

WINNERS & LOSERS: Auction upgrades guidance; Aquila talks break down
4 mins ago

WINNERS & LOSERS: Auction upgrades guidance; Aquila talks break down

(Alliance News) - The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Thursday.

Costain trading in line, on course for 'industry-leading' 4% margin
4 mins ago

Costain trading in line, on course for 'industry-leading' 4% margin

(Sharecast News) - Construction and engineering firm Costain said on Thursday that trading has been in line with its expectations as it reiterated tha...