Porsche to cut 9,000 jobs by 2035 amid weak demand
2026-07-27 14:32:51
According to CNBC, German luxury carmaker Porsche will cut 9,000 jobs by 2035 as parent Volkswagen and its brands restructure amid weak demand and intense competition. Porsche management and labor representatives agreed to 5,000 additional job cuts that would avoid compulsory redundancies through natural attrition and voluntary schemes. The move follows a first package of 3,900 cuts and another 500 announced earlier this year by new CEO Michael Leiters, who was tasked with revamping the business after sales in Porsche's China market collapsed and its EV strategy stalled. The deal also includes guarantees to keep sites open until the end of 2035 and 2.1 billion euro ($2.39 billion) in investments in the Stuttgart-Zuffenhausen factory and the Weissach R&D center.
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