Reports on Further Job Cuts: Porsche Supervisory Board Backs Austerity Package
Negotiations over further cost-cutting measures have been ongoing at Porsche for months. Now the supervisory board has pledged its support for the current state of those talks. According to media reports, thousands of additional jobs could be lost as a result.
Further job cuts appear to be taking shape at Porsche. As a company spokesperson announced, the supervisory board of Porsche AG has expressed its support for the executive board regarding "the current status of negotiations on the future package." The next step, according to the spokesperson, is to "finalise the remaining details." No further information was provided, including on the substance of the plans.
According to media reports, however, plans for another round of job cuts are already in place: Bild reports that between 5,000 and 6,000 positions are to be eliminated by 2035. Manager Magazin also reported on cuts of a similar scale.
The sports car manufacturer did not confirm the figures, but pointed out that negotiations between the company, works council and trade union are currently ongoing.
Thousands of Jobs Already Cut by 2029
Management, led by CEO Michael Leiters, and employee representatives have recently been engaged in intensive negotiations over the so-called future package. Leiters had already announced in March his intention to significantly streamline Porsche and tighten the programmes previously put in place for that purpose. This would also include job cuts. In return, the job security agreement — which currently rules out compulsory redundancies until mid-2030 — could be extended, according to reports.
A year and a half ago, Porsche had already announced that around 1,900 positions in the Stuttgart region were to be eliminated by 2029 through socially responsible means. In addition, the contracts of around 2,000 temporary employees have since expired. Jobs have also been cut at the Leipzig plant.
