German sports car manufacturer Porsche is preparing to cut more than 4,000 additional jobs. Citing sources from the daily Handelsblatt, the DPA news agency reported the news. According to the newspaper, the final figure could be significantly higher. Porsche currently employs over 40,000 people worldwide.
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Porsche Prepares New “Future Package” as Cuts Hit Management and R&D
According to the report, the measures will primarily affect employees in managerial and administrative positions. At the development center in Weissach, the utilization of approximately 30 percent of local capacities is reportedly being re-evaluated.
A Porsche spokesperson declined to confirm the specific number of affected jobs. They only mentioned that the company is currently preparing another “future package” aimed at streamlining its operations, which it aims to present by the end of July.
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German Auto Crisis Deepens: Porsche and VW Face Massive Layoffs Amid Global Pressures
Further job cuts beyond the original package had already been announced in March by Porsche CEO Michael Leiters. Approximately 1,900 jobs are to be eliminated in the Stuttgart area by 2029. In addition, the contracts of around 2,000 temporary employees have expired. In May, Porsche also announced the closure of three subsidiaries, affecting an additional 500 employees.
German automakers are struggling with rising Chinese competition as well as US tariffs. Mercedes wants to return to a 40-hour workweek. The Volkswagen automotive group is also planning massive layoffs. According to media reports, it intends to eliminate up to 100,000 jobs worldwide in the coming years, which represents about 15 percent of its current workforce.
Source: Reuters
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