BMW: to Cut 100 Million Euros of German Labor Costs from 2015 (Video)

June 3, 2014 Updated: June 3, 2014

Carmaker BMW intends to cut $136 million of German labor costs annually from 2015 onwards.

A German local newspaper reported on Monday that in March, BMW announced it would invest $1 billion to expand its U.S. plant in Spartanburg, South Carolina, increasing the number of people employed there by about 800 to 8,800, making it the group’s biggest production facility by 2016. A BMW spokesman on Monday evening declined to comment on the savings target.