BMW CFO aims to cut 5,000-6,000 jobs by 2022

BMW’s finance chief Nicolas Peter wants to slash between 5,000 and 6,000 jobs by 2022, mainly at the automaker’s Munich headquarters, a German magazine reported on Thursday.

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

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

In August, Oliver Zipse succeeded Harald Krueger to reign as chief executive officer, leaving vacant the production role he used to oversee.

On Wednesday, BMW stated that Milagros Caiña Carreiro-Andree, the board member in charge of human resources, would not look for a new term, mentioning personal reasons.