BMW announced today that it will cut production by introducing shorter hours at four of its German plants due to “challenging” conditions in global auto markets. The German automaker said that 26,000 workers at its Dingolfing, Regensburg, Landshut and Berlin will work shorter hours in February and March.
The reduced hours will help BMW cut labor costs and production without firing employees. The cuts will reduce the production of the 3 and 7-Series along with some parts.
“The highly qualified employees we are able to retain today will give us a decisive competitive edge in the future,” BMW said in its press release.
BMW also said that it is applying state guarantees to back up its borrowings.