BMW’s finance chief Nicolas Peter is rumored to cut between 5,000 and 6,000 jobs by 2022, mostly at the carmaker’s Munich headquarters, a German magazine reported on Thursday. German Manager Magazin also said that Ilka Horstmeier was a favorite to head human resources, while Milan Nedeljkovic would take over as head of production.

On Wednesday, BMW announced that Milagros Caiña Carreiro-Andree, the board member in charge of human resources, would not seek a new term, citing personal reasons.

The same report says that BMW has declined to comment at the moment.

The shake-up is somewhat expected considering that Oliver Zipse succeeded Harald Krueger to became chief executive officer. As it’s always the case, new management brings a lot of changes at companies, including personnel realignment.

It remains to be seen, of course, whether all the details of the report will be implemented exactly the same way as outlined in the Manager Magazin. The next few weeks will bring some clarity and the first corresponding decisions are likely to be communicated.