BMW says it will cut annual labour costs by 500 million euros
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German luxury car maker BMW unveiled details Wednesday of a broad cost-savings plan that includes a sharp cut in personnel expenses.
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually at its unprofitable European unit after reaching an agreement with unions to cut 11,500 jobs and reorganize.
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Auto parts supplier Delphi Corp.  DPH.N said on Friday it plans to cut 8,500 jobs, or up to 5  percent of its work force, in 2005 because of vehicle  production cuts by its North American customers and rising  materials costs.
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General Motors Europe announced Thursday that it plans to cut 12,000 jobs on the continent by the end of 2006 in a plan aimed at saving &#36;617 million per year.
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General Motors Europe will chop 12,000 jobs over two years -- around a fifth of its workforce -- to lop 500 million euros ($673 million
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Delphi Corp., the world's largest automotive supplier, said Friday it would cut 8,500 jobs next year.
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The European Commission proposes a cut of 18% in CO2 produced by the average new car within five years.
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Volkswagen AG, Europe's biggest carmaker, is threatening to slash 30,000 jobs to force unionized employees to accept a pay freeze in the latest and largest labor-management confrontation this year in Germany.
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Volkswagen, Europe's largest carmaker, has become the latest German firm to try to take on unions as it seeks to make major cost cuts.
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Struggling German retailer KarstadtQuelle on Thursday agreed with employee representatives on a cost-cutting plan that will include eliminating some 5,500 jobs, or 12 percent of its work force, and a three-year pay freeze.
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Ford Motor Co. F.N on Friday said it   will slash $5 billion in costs and cut nearly 45,000 jobs,   about one-third of its work force, in a sweeping restructuring,   and warned that its North American unit won't make a profit for   another three years.
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Goodyear Tire &amp; Rubber Co. on Friday said it plans to cut about 340 jobs over the next year, and will take rationalization charges during the third quarter in an effort to reduce costs in its engineered products and chemical divisions.
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General Motors yesterday reached an agreement to slash nearly a third of its German workforce in a government-supported deal that could cost the US carmaker about $1 billion (Â¤750,824 million).
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Oct. 07, 2004. Unisys plans to cut 1,400 jobs, or nearly 4 percent of its workforce, and consolidate some facility space, moves that will help yield annualized savings of about $70 million a year by 2005.
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Delphi, the world&#39;s largest auto parts maker, said Friday that it would cut nearly 5 percent of its work force, or 8,500 jobs, as it copes with the declining fortunes
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General Motors (GM) plans to announce a massive restructuring Thursday that will eliminate as many as 12,000 jobs in Europe in a move to stem the five-year flow of red ink from its auto operations in the region.
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Around 3,200 workers at Volkswagen's   VOWG.DE core VW business in Germany have accepted voluntary   redundancy packages that Europe's biggest carmaker is offering   to prune labor costs, the company said on Wednesday.