German media: Porsche may further cut thousands of jobs

Due to declining sales, German sports car manufacturer Porsche has begun massive layoffs. According to media reports, the actual number of job cuts could far exceed the previously announced 4,000.

According to Germany's Handelsblatt, following the announcement earlier this year to cut 4,000 positions, sports car maker Porsche may further reduce up to another 4,000 jobs.

It is reported that employees in management and administrative roles have been particularly affected. At the research center in Weissach near Stuttgart, approximately 30% of staff will undergo reassessment.

When asked by Deutsche Presse-Agentur about specific numbers of layoffs, a Porsche spokesperson declined to confirm, but mentioned that the company is currently developing a comprehensive "Future Program" aimed at streamlining operations. The plan is expected to be unveiled by the end of July.

Currently, management and employee representatives are still negotiating another cost-cutting initiative.

Porsche CEO Michael Leiters announced a new round of large-scale layoffs in March this year. Under this plan, around 1,900 positions will be cut in the Stuttgart region by 2029. Additionally, contracts for about 2,000 temporary workers will not be extended upon expiration. Moreover, Porsche also announced in May the closure of three subsidiaries, which will affect an additional 500 employees.

Difficulties in Electric Vehicle Transition

Porsche is a brand under Volkswagen Group. One reason behind the current sales decline is the strategic shift toward electric vehicles. As a result, sales of internal combustion engine vehicles have sharply declined, creating a significant sales gap.

To reverse the trend, CEO Leiters plans to carry out a “top-down overhaul.” For this purpose, one of the eight seats on the executive board has already been eliminated. According to Handelsblatt, three female executives will also be leaving.

Data from Porsche shows that the group employs over 41,000 people worldwide. In 2025, the group's revenue reached €3.627 billion, with an operating profit of €413 million.

Source: DW

Original article: toutiao.com/article/1870046299689995/

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