BERLIN—BMW AG said global economic and trade pressures as well as high investment costs would contribute to a significant decrease in the German luxury car maker’s profit this year. In the face of a deteriorating profit outlook, the company’s executives said they would take a series of cost-cutting measures of up to €12 billion ($13.62 billion) a year and effectively freeze hiring in 2019. They also said up to 4,000 jobs world-wide would go through natural attrition, ruling out forced layoffs.

Source: Wall Street Journal March 20, 2019 13:30 UTC