TT: BMW is aiming to save six billion Euros annually - half a billion of that total is due to reduced personnel costs - je 28.02.2008

Profits are pouring in at German companies - but workers don't seem to be getting the benefit. Deep job cuts are just one aspect of a rigorous program intended to boost efficency and slash costs at BMW. Worst-hit are those on temporary contracts. But two and a half thousand PERMANENT posts are to be axed too. The German Union, IG Metall, is calling the plan a rupture in the culture of employee relations, saying downsizing is not a concept that can work long-term. Munich-based BMW is aiming to save some six billion Euros annually - and half a billion of that total is due to come from reduced personnel costs. +++SYN-MAZ+++