Porsche could cut another 4,000 jobs

Stuttgart [Germany], July 7: Up to 4,000 more jobs could be cut at sports carmaker Porsche following the job cuts already announced, the Handelsblatt newspaper reported on Sunday.
The newspaper said staff in management and administration are particularly affected. Around 30% of capacity at the Weissach development site north-west of Stuttgart is set to be under review.
A Porsche spokesman declined to confirm the specific number of jobs in response to a dpa enquiry but referred to a comprehensive future package that is currently being worked on to streamline the company.
The package is to be presented by the end of July.
Parties still negotiating Management and employee representatives are currently negotiating a further savings package. Porsche chief Michael Leiters had already announced additional extensive job cuts in March, on top of an initial package.
Around 1,900 jobs in the Stuttgart region are already set to be cut without compulsory redundancies by 2029. Contracts for around 2,000 fixed-term employees have also expired.
In addition, Porsche announced in May that it would close three subsidiaries, affecting a further 500 employees.
Source: Qatar Tribune