job cuts

Barclays to cut 5,000 jobs, citing AI efficiency gains

Barclays said Thursday it is cutting about 5,000 jobs, roughly 5% of its workforce, this year. The bank says artificial intelligence and other technology are letting it lower fixed costs and lift returns, Reuters reported. Chief Financial Officer Anna Cross…

Porsche faces 4,100 more job cuts under VW restructuring

Volkswagen's turnaround plan calls for roughly 4,100 additional job cuts at its sports car subsidiary Porsche Dr. Ing. h.c. F. Porsche AG, German business daily Handelsblatt reported on Saturday, piling further pressure on a brand already grappling with collapsing sales…

BMW to cut 8,000 jobs worldwide by end of 2027

BMW Bayerische Motoren Werke AG announced on Wednesday a voluntary severance programme that will eliminate around 8,000 positions worldwide by the end of 2027, making it the last major German automaker to launch a large-scale workforce reduction amid mounting pressures…