BMW is cutting more than 100 managers as new CEO Milan Nedeljković accelerates cost reductions amid plummeting China sales and US tariffs. The German automaker will axe about 20 per cent of its 65 senior vice-presidents and a "three-digit number" of lower management staff. These cuts build on June's announcement of 8,000 back-office job losses, mostly in Germany.

Nedeljković warned profitability will remain subdued for years, forecasting an operating margin of 3 per cent to 5 per cent in 2028 - far below the historic 8 per cent to 10 per cent target. BMW's shares have fallen more than 40 per cent this year, with revenue down 8 per cent and pre-tax profit plummeting 29 per cent in the first half. The company will seek voluntary redundancies from October and plans additional cost decisions by spring 2027.