Porsche Plans Another 5,000 Job Cuts, German Media Reports
The move would add to 3,900 already agreed redundancies as Porsche faces weak margins, falling China sales and tariff pressure, Reuters reported.
- On Wednesday, German media reported that Porsche plans to cut 5,000 additional jobs as the carmaker's supervisory board met to discuss restructuring measures.
- Margins at Porsche crashed to 1.1% last year, driven by falling sales in the Chinese market, tariff woes, and a stalled electrification strategy.
- Having already agreed to 3,900 redundancies, labour representatives and management are negotiating a second package of measures; four plants in Germany face closure.
- Parent Volkswagen has warned that 100,000 jobs could be cut across the group to become cost-competitive, while a Porsche spokesperson declined to comment.
- Manager Magazin reported the redundancy figures, citing unnamed sources as Porsche attempts to reverse declining profitability across its operations.
53 Articles
53 Articles
A new heavy linear cut of the employed could hit Porsche AG, widening the crisis of the German autotomotive. For months negotiations are under way for the reduction of costs, now the Supervisory Board has expressed its support to the state of the negotiations on the "Package for the future" which could result in the cutting of thousands more of [...] The article Porsche, other thousands of cuts: "Up to 6,000 places at risk by 2035" comes from Il…
The sports car manufacturer Porsche announced another savings package on Wednesday evening. According to the Frankfurter Allgemeine Zeitung, part of the measures is to be taken ... The post Porsche announces savings package – another 5,000 jobs are to be eliminated appeared first on Apollo News.
Porsche is preparing for a new round of redundancies. According to the German press, the total number of decommissioned posts could reach about 9,000. The Porsche article announces mass redundancies. About 9,000 people could be kicked out first appears on Romania TV.
Porsche CEO Leiters wants to reduce up to 6000 jobs, cover special payments to 1500 euros and develop an expensive super sports car in parallel. The strategy reveals the sluggishness of the car industry.
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