Auto industry: Loyalty cannot be prescribed - but it can be gambled away

BMW has set aside more than a billion euros for its severance pay program. The group wants to get rid of 8,000 employees by the end of 2027.

Unlike in previous crises, this time it is not production that is hit first, but rather development and administration - including many main department, division and group managers. BMW is said to have offered some people more than 650,000 euros to leave the company.

Things are similar with Mercedes, Volkswagen and Porsche. Half a million euros for executives is not uncommon in the auto industry.