BMW 'Turbo Bonus' Offers Employees Up To $730,000 To Quit

BMW wants to cut 8,000 jobs by the end of next year, and to help make it happen, the German automaker is offering some employees staggering severance payments of more than €650,000 — that's about $730,000! It's hardly surprising, then, that interest in the program has been so high that BMW's online employee portal reportedly malfunctioned after the offers were sent out.

Last week, BMW emailed tens of thousands of employees a link to the portal where they could see a proposed severance payment. Handelsblatt obtained one of these termination agreements and reports that several employees have been offered six-figure packages to leave the company.

The amount available varies depending on the employee's age, how long they've worked at BMW, and their salary. Those who accept the offer can choose to receive the payment as a lump sum, through installments, via a partial contribution to their retirement savings account, a payment to their insurance policy, or a combination of all.

BMW is offering two departure dates for workers who agree to the severance deal. Those who leave by March 31, 2027, will be eligible for an additional and undisclosed 'Turbo Bonus'. Alternatively, they can leave by October 31, 2027, but won't receive the extra bonus. The German publication also reports that employees who turn 55 by October 31 next year could get access to the 'BMW pensioners' program that gives them privileges like employee deals on new and used BMWs. High-ranking staff may also be given the chance to buy any company car they're currently using.

Interest in the program was apparently so high that the online portal started glitching soon after launching. BMW now has to prioritize expressions of interest before deciding who will get their marching orders and exactly how much they will get paid.

BMW

While payments reaching deep into six figures may seem excessive, BMW is eager to slash costs, and salaries are often among a company's biggest expenses. BMW Chief Executive Milan Nedeljković wants the company to save €1 billion ($1.12 billion) annually from 2028 to boost its operating margin from 3% to 5% by that date. It has also set a long-term goal for its margin to rise to between 8% and 10% in the early 2030s.

Nedeljković was named BMW's new CEO in December last year and took over the reins from outgoing boss Oliver Zipse in May 2026. Under Nedeljković's leadership, BMW is embarking on an ambitious rollout of new models, totaling 40 new or updated cars by the end of 2027. Several of these have already been announced, including the new i3 and 3-Series.

BMW