BMW could endure a 30 percent slump in sales without posting losses or having to lay off staff thanks to an anti-crisis package agreed between staff and management, Der Spiegel reported on Sunday.
"Our agreement with workers (of late September) provides for a whole bunch of flexibilisation measures," a BMW spokesman told Reuters News Agency. "The goal of the plan is to preserve jobs."
Munich-based BMW, due to report third-quarter results on Nov 6, said on Sept 26 that the deal reached with staff representatives to solve a row over lease workers includes steps to adjust production to changes in vehicle demand.
Luxury-car makers BMW, VW's Audi and Daimler's Mercedes-Benz have been weathering the demand crisis in austerity-strapped Europe better than mass-market peers, benefiting from a solid home market and demand for premium cars in China and the U.S.––Paul DucheneBack to News