BMW is in talks with labor representatives and its top providers as it looks forward to achieving cost savings of over 12 billion euros ($13.26 bln) by 2022, Chief Financial Officer Nicolas Peter informed analysts on Wednesday.
“We are currently discussing more measures with the Works Council. All parties are working very constructively to make the company even stronger and more efficient,” Peter stated.
“The results will be presented next Wednesday at our employee meeting. One thing is clear: We will have to achieve significant savings each year with these measures,” Peter added.
BMW prepares to keep staff numbers at roughly the same level as last year, Peter stated.
Other than that, BMW stated it has introduced an efficiency program with top providers which consists of agreements with 18 companies.