BMW to cut 6,000 jobs in Germany to save costs

Industry Europe | Jun 19, 2020 at 4:00 PM

Although currently employing some 126,000 people globally, the Bavarian automaker had recently put roughly 34,000 staff on short-hour contracts to make up for their entire production line grinding to a halt at the end of March as the pandemic spread across the continent.

Gov’t to loan W 5 tril. to key industries’ small partner firms

The Korea Times | Jun 19, 2020 at 10:23 AM

Loan, guarantees and maturity extension allowed to auto part makers By Lee Kyung-min The government decided to offer 5 trillion won ($4.1 billion) in loans for ailing domestic parts suppliers to the country’s top-tier conglomerates for use in automotives, airplanes, steel and ships crucial to the country’s economy.