BMW to cut German labor, increase U.S. production

|By:, SA News Editor

BMW (BAMXY) plans to cut €100M ($136M) of German labor costs every year after 2015.

The German cuts come as the company decides which plants in Bavaria are financially worth it to build it's new models.

However, BMW also announced it would invest $1B to enlarge its U.S. plant in South Carolina, increasing the number of employee's to 8,800. The U.S. plant will be the company's biggest production facility by 2016.