Porsche and labor representatives agreed to cut 5,000 jobs by 2035, the
carmaker and its central works council said on Monday. Reductions will be
achieved through natural attrition, expanded partial‑retirement schemes and
voluntary exit agreements, and employment and plant‑operation guarantees at
Porsche’s main German factories will be extended through end‑2035. The deal
underscores mounting pressure on parent Volkswagen Group; Volkswagen warned last
week that weakening operations could push group revenue down as much as 3% this
year.
