German automaker Porsche plans to cut 5,000 jobs by 2035 as part of the second phase of a restructuring agreed upon with trade union representatives.
elchi reports that this was stated by Reuters.
As noted in a joint statement by the parties, the new cuts follow the first package of measures, which involved the dismissal of 3,900 employees, as well as the decision to cut another 500 jobs announced by the company’s CEO Michael Steiner earlier this year.
Porsche emphasized that the optimization of staff numbers will be carried out in compliance with social obligations.
The restructuring is taking place against the backdrop of a massive cost-cutting program at the Volkswagen Group. The company is facing high production costs, intensifying competition, and tariff barriers.
However, the reached agreement provides for the retention of Porsche’s production sites until 2035, as well as an investment of 2.1 billion euros (approximately 2.39 billion dollars) in the company’s plants in Zuffenhausen and Weissach.
Məryəm