BMW Assures Not To Cut Jobs In Electric Model Transition: Financial Times

Bayerische Motoren Werke AG BMWYY will not resort to job cuts during the company's transition from combustion engines to electric models, Financial Times reported.
"We will not have job losses due to the transformation," the report quoted CEO Oliver Zipse. "At the end of the day, possibly already in this decade at our Munich plant, there will be fully electric production without anyone losing their job."
BMW is due to unveil its first electric limousine car, the i7, in April.
Price Action: BMWYY shares closed lower by 1.19% at $27.36 on Thursday.
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