Carmaker Porsche AG plans to cut an additional 1,900 jobs across the entire company over the next four years after a programme that has started was determined to be insufficient, a company spokesperson told Reuters on Thursday.
The German carmaker aims to reduce the number of positions at its main sites in southwestern Germany, Stuttgart-Zuffenhausen and Weissach, by 15% by 2029, it said.
Porsche, majority owned by Volkswagen AG, said it cannot announce forced redundancies under a location safeguarding agreement valid until 2030.
It initiated the process this year by not renewing the contracts of 1,500 fixed-term employees, while another 500 are coming to an end, the spokesperson said.
"That alone is not enough. The executive board and works council have therefore decided on a programme to cut around another 1,900 jobs across the entire company in the coming years," the spokesperson said in an emailed statement.
The company is also relying on natural fluctuations, demographic change and a restrictive approach to filling vacancies and hiring new staff, said the spokesperson.
"Porsche is in a comparatively good position. But there are many challenges to overcome, such as the delayed ramp-up of electromobility and the challenging geopolitical and economic conditions," said the spokesperson.
Local Stuttgarter Zeitung newspaper first reported the plans.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.