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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In 2026, the VW Group only expects a return on sales of one percent. According to "Handelsblatt", the savings measures at the Porsche subsidiary could be extended.
In order to reduce costs, the German autogiant Volkswagen intends to further reduce some 4,100 jobs in the factories of its subsidiary, Porsche. The management of the autogiant has prepared a large cost optimization programme, transmits to RIA News. "For a brand of Porsche, the plan from Wolfsburg envisages a reduction of about 4,100 jobs," says a German press publication. The new measures will complement the existing termination agreements. Bas…
Already now Porsche wants to cut thousands of jobs to reduce costs. However, the parent company Volkswagen does not seem to be enough to save money.
According to the Volkswagen Group's large-scale restructuring plan, more than four thousand more jobs may be lost at Porsche, according to Handelsblatt on Saturday, after the sports car manufacturer's subsidiary was forced to issue a profit warning due to problems.
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