BMW 2008 Annual Report Download - page 28
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29 Group Management Report
The interest rate risk is managed within the Financial
Services segment using a risk-return approach. Diversified
value-at-risk*, as measured to quantify the interest rate
risk, increased during the year from euro . million to
euro . million.
*Based on a confidence level and a holding period of days
Size of workforce reduced
The BMW Group’s workforce was reduced by , em-
ployees (– . ) during the financial year to stand
at , employees at December . This is largely
due to the implementation of previously reported meas-
ures to reduce the size of the workforce and the sale
of business units in . The workforce reduction pro-
gramme resulted in a sharp rise in the employee fluctua-
tion ratio at BMW AG.
Despite the overall reduction in personnel, the BMW Group
nevertheless recruited staff on a targeted basis in .
In addition to the recruitment of almost , new appren-
tices, permanent posts were also filled during the
course of the year at BMW AG. Approximately of the
BMW Group’s workforce is employed in Germany.
Number of apprenticeships remains high
, young people started their apprenticeships with the
BMW Group at the beginning of the training year . The
number of apprentices recruited has been consistently
BMW Group Apprentices at December
5,500
5,000
4,500
4,000
3,500
3,000
2,500
04 05 06 07 08
4,464 4,464 4,359 4,281 4,102
BMW Group Employees
31.12. 2008 31.12. 2007 Change
in %
Automobiles 92,924 98,548 – 5.7
Motorcycles 2,917 2,989 – 2.4
Financial Services 4,077 4,097 – 0.5
Other 123 1,905 – 93.5
thereof consultancy / software – 1,793 –
BMW Group 100,041 107,539 – 7.0