Porsche Announces Additional Job Cuts as Part of Restructuring Strategy
Porsche has announced plans to cut an additional 5,000 jobs by 2035 under its restructuring strategy known as the 'Future Package,' bringing total planned reductions to 9,000 positions. The decision was reached in collaboration with key stakeholders including Porsche's executive board, unions IG Metall and Südwestmetall employers' association. Job cuts will be managed through natural turnover, voluntary exits, partial retirement schemes, and demographic changes rather than forced layoffs. In exchange for the job reductions, Porsche has extended site guarantees at its Zuffenhausen and Weissach locations until 2035 and pledged to invest €2.1 billion in these sites over that period. The company also introduced cost-saving measures such as deferring a portion of future pay raises, reducing Christmas bonuses, limiting mobile working days, adjusting break schedules, and introducing performance-linked discretionary payments. Porsche will provide one-off transformation payments to employees in 2026, with additional benefits for IG Metall members. The announcement follows broader restructuring efforts at Volkswagen Group, where CEO Oliver Blume warned of potential job cuts across the parent company.