Nicolas Peter, CFO of German luxury carmaker BMW wants to cut between 5,000 and 6,000 jobs by 2022.

According to Reuters, the cuts would be seen mostly at the carmaker’s Munich headquarters.

BMW recently announced Milagros Caiña Carreiro-Andree would be stepping down as head of HR.

Manager Magazin said that Ilka Horstmeier was a favorite to head HR, while Milan Nedeljkovic will head up production.

In August, Oliver Zipse succeeded Harald Krueger to became chief executive officer, leaving vacant the production role he had overseen.

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