Porsche Considers Cutting Up to 4,000 Jobs in Germany
German newspaper Handelsblatt reports that Porsche is considering cutting up to 4,000 jobs at its Zuffenhausen plant. This follows a previous agreement to reduce headcount by 3,900.
Automaker Porsche is reportedly considering cutting up to 4,000 jobs at its Zuffenhausen plant in Germany, according to German business daily Handelsblatt. Insiders suggest the reductions would primarily affect administrative and management staff.
The report also indicates that Porsche may reduce capacity at its Weissach research and development center by approximately 30 percent. The company had previously agreed to cut 3,900 jobs.
A Porsche spokesperson did not confirm the specific figures but stated that the company is developing a comprehensive plan to streamline its organization, expected to be announced by the end of the month.
These potential job cuts come after Porsche reported a 15 percent year-over-year decrease in global deliveries in the first quarter, with deliveries in China falling by 21 percent.
Despite the sales dip, Porsche CEO Michael Leiters has previously emphasized the company's ability to achieve higher profits by focusing on increasing the profit margins of existing and future models, even if overall sales volumes decrease.