November 27, 2019 / 11:17 AM / 17 days ago

BMW management and labour reach agreement to cut costs

HAMBURG, Nov 27 (Reuters) - BMW management and labour have reached an agreement on measures to reduce costs that avoids “drastic measures”, the German carmaker said on Wednesday.

BMW had been in talks with labour representatives and its top suppliers as it seeks to achieve cost savings of more than 12 billion euros ($13 billion) by 2022.

$1 = 0.9073 euros Reporting by Jan Schwarz; writing by Tom Sims; editing by Thomas Seythal

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