BMW wants to cut 8,000 jobs by the end of next year, and to help make it happen, the German automaker is offering some employees staggering severance payments of more than €650,000 — that's about $730,000! It's hardly surprising, then, that interest in the program has been so high that BMW's online employee portal reportedly malfunctioned after the offers were sent out.
Last week, BMW emailed tens of thousands of employees a link to the portal where they could see a proposed severance payment. Handelsblatt obtained one of these termination agreements and reports that several employees have been offered six-figure packages to leave the company.
Read Article