Demand in China, the world's biggest auto market, has fallen for 15 months, while carmakers are under pressure to invest in cleaner and self-driving technologies set to reshape the industry.BMW, Daimler and Volkswagen have all announced cost cutting plans because of the industry downturn that could tip Germany, which releases third-quarter gross domestic product data on Nov. 14, into recession for the first time since 2013.
"We are in talks with works council representatives," Chief Financial Officer Wolfgang Schaefer told Reuters, adding the company would seek to strike job reduction deals with staff by the end of this year.
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