Porsche plans 5,000 job cuts by 2035

German company Porsche has announced a restructuring plan that includes cutting an additional 5,000 jobs by 2035, as part of its efforts to improve operational efficiency and adapt to the challenges of the global automotive market. This move follows a previous reduction of 3,900 jobs, bringing the total number of jobs the company aims to cut to 9,400. The plan also involves extending operational guarantees for production sites by five years and investing 2.1 billion euros to support technological upgrades and enhance competitiveness, especially amid declining demand for luxury electric vehicles—particularly in the Chinese market—and rising production costs. The company aims to strike a balance between reducing costs and boosting investments in hybrid and combustion engine sectors, while closely monitoring global economic challenges and shifts in the automotive market.

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