UPDATE 1-Staff cuts cost BMW hundreds of millions of euros

Newswire

(Adds detail, background) FRANKFURT, Feb 27 (Reuters) - BMW , the world's largest premium carmaker, plans to cut 2,500 permanent staff in Germany and 8,100 jobs in total in a move that will cost the company hundreds of millions of euros, it said on Thursday. The reductions are intended to generate annual savings of 500 million euros ($752 million) starting in 2009. Should the euro sustain its rise above $1.50, BMW personnel chief Ernst Baumann said the group "will be in need of further ...

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