Key facts
- Porsche CEO Michael Leiters assured staff no additional 4,000 job cuts are planned.
- A report suggested Volkswagen's supervisory board viewed 4,100 Porsche jobs as superfluous.
- Porsche's existing restructuring plan has been approved by its supervisory board.
- Porsche plans to invest 2.1 billion euros in Zuffenhausen and Weissach sites by 2035.
- Employment and site protection at Porsche are extended until 2035.
- A total of 5,000 jobs are to be reduced by 2035 through natural attrition and voluntary schemes.
Porsche CEO Michael Leiters has stated that there are no plans to cut an additional 4,000 jobs at the Volkswagen sports car subsidiary, according to an internal memo seen by Reuters. This assurance comes in response to a Handelsblatt report indicating that Volkswagen's supervisory board considered 4,100 jobs at Porsche to be superfluous, in addition to previously agreed layoffs.
Leiters clarified that the existing restructuring plan, which has been approved by Porsche's own supervisory board, will not be altered. He stated, "We do not anticipate any changes to it."
Separately, Porsche AG's Executive Board and General Works Council, in conjunction with IG Metall and Südwestmetall, have negotiated a "Future Package" extending employment and site protection until 2035. This package includes a cumulative investment of 2.1 billion euros in the Zuffenhausen and Weissach sites. The measures aim to reduce personnel costs, increase site flexibility, and significantly boost productivity, with a socially responsible reduction of 5,000 jobs by 2035 primarily through natural attrition, demographic effects, and voluntary severance agreements. These measures follow earlier agreements for 3,900 job cuts in February 2025 and an additional 500 announced by CEO Leiters related to subsidiary closures. Porsche's supervisory board has given its approval to these additional cuts.