Porsche could face another 4,000 job cuts, Handelsblatt reports
The cuts would add to 5,000 layoffs agreed in July as Porsche faces a profit warning and a €700 million overhead gap, Handelsblatt reported.
- On Saturday, Volkswagen proposed about 4,100 additional job cuts at Porsche, according to German business daily Handelsblatt, following a profit warning linked to the sports car subsidiary.
- Volkswagen revised its full-year margin target to 1% on Friday, citing a writedown at Porsche where CEO Michael Leiters manages declining China sales and a costly reversal of the carmaker's EV strategy.
- To address an overhead shortfall of €700 million , the automaker targets "about 4,100 employees" for reduction, according to Handelsblatt's review of supervisory board files.
- Porsche management previously agreed to 5,000 additional layoffs atop 4,000 determined earlier; these new cuts are "in addition to existing agreements", bringing the total scope to one in five by 2035.
- While Volkswagen can only recommend, but not mandate, such measures at Porsche, final execution of these restructuring plans remains with the subsidiary's management and labour representatives.
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51 Articles
Porsche may see 4,100 more layoffs under Volkswagen's turnaround plan: Report
Volkswagen's turnaround plan could bring more than 4,000 additional job cuts at Porsche, according to Handelsblatt. The reported move comes as the group trims its margin target after a Porsche-linked writedown.
Volkswagen cuts the forecast for the current year: in 2026, Europe's largest car manufacturer only expects an operating return on sales of just one percent.
Sports car manufacturer Porsche could cut another 4,000 jobs, reports the German business newspaper Handelsblatt. Parent company Volkswagen is advising the elimination of thousands of additional jobs as the sales market in China continues to decline.
Volkswagen is studying the reduction of an additional 4100 jobs in Porsche to address a deficit of about 700 million euros, amid declining sales in China and the pressures of profitability and the cost of adjusting the electric car strategy.
According to a newspaper report, the sports car manufacturer Porsche could lose 4,000 more jobs.
Porsche Layoffs: 4,100 More Job Cuts Under Volkswagen Overhaul Plan | 🚘 LatestLY
Volkswagen's restructuring plans propose 4,100 additional job cuts at Porsche to address a EUR 700 million overhead shortfall. The measures follow a major profit margin revision and a EUR 6 billion writedown on Volkswagen's Porsche stake, driven by falling sales in China and costly electric vehicle strategy reversals. 🚘 Porsche Layoffs: 4,100 More Job Cuts Under Volkswagen Overhaul Plan.
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