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BMW Announces Plan to Cut 8,000 Jobs in Germany Amid Profit Drop

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BMW says it generated only €1.2 billion post-tax profit in Q2, down 35% as revenues fell from €34 billion to €31 billion. At works meetings in Munich, Nedeljković called for BMW to become profitable and said car-market rules have changed. BMW expects 1–3% profit this year and a programme running until end of next year, while employees on 38- or 40-hour contracts face pay cuts amid plans to cut 8,000 jobs in Germany.

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