Key facts
- BMW will reduce its German workforce by several thousand by the end of 2027.
- BMW's job cuts will be through a voluntary redundancy program.
- BMW's program excludes production operations.
- BMW targets administrative and development divisions for job cuts.
- Visa plans to cut approximately 7% of its global workforce.
- Visa's job cuts amount to about 2,600 jobs.
- Visa's plans were reported by Bloomberg News.
- Bloomberg cited a staff memo for its Visa report.
BMW plans to reduce its German workforce by several thousand employees by the end of 2027. This reduction will be achieved through a voluntary redundancy program. The agreement specifically excludes production operations, focusing instead on administrative and development divisions within the company.