BMW warns on profits as it counts cost of plan for 8,000 job cuts

BMW has issued its second profit warning this year, citing restructuring costs and job cuts amid competition from Chinese automakers. The company reported a significant drop in third-quarter earnings and a decline in sales in China. BMW's profit margin has been slashed, and it plans to accelerate restructuring measures, including cutting management roles. Despite a slight improvement in operating margin, revenue fell due to lower sales in China, reflecting broader challenges in the German automotive sector.