The Newshound

German carmaker BMW warns on profits for the second time this year, blaming the cost of 8,000 job cuts

BMW now forecasts a profit margin as low as -0.5% this year, as CEO Milan Nedeljković said the firm would accelerate structural measures to cut costs faster.
BMW now forecasts a profit margin as low as -0.5% this year, as CEO Milan Nedeljković said the firm would accelerate structural measures to cut costs faster.

BMW now forecasts a profit margin of between -0.5% and 0.5% this year, against a long-term target of 8% to 10%.

CEO Milan Nedeljković said BMW will "specifically intensify and accelerate structural measures" to cut costs faster.

Shares rose 2.3% despite the grim results, boosted by Democratic gains in US midterms raising hopes of softer trade policy.

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