Porsche to cut 5,000 jobs by 2035

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Porsche, a Volkswagen subsidiary, agreed with labour representatives to cut a further 5,000 jobs by 2035 under a second restructuring package, following earlier rounds this year. The deal extends plant location guarantees by five years to 2035 and commits €2.1 billion of investment in Zuffenhausen and Weissach factories. The measures are presented as socially responsible and come as Porsche shifts from being a profit driver to a crisis case amid high costs, stiff competition and tariff woes, potentially feeding into a broader showdown over cuts across the Volkswagen group.

Porsche will cut 5,000 jobs and invest €2.1 billion.