Porsche may cut a further 4,100 jobs

Porsche is planning to cut approximately 4,100 jobs. The information was reported by Handelsblatt, based on internal Volkswagen documents. The new plan is linked to cutting the company's costs and closing a shortfall of roughly €700 million.

If the new plan is approved, job cuts at Porsche will become even more extensive. The company has already decided to eliminate around 9,000 positions. Of these, 4,000 are tied to the old plan, while an agreement on an additional 5,000 job cuts was reached in July.

Porsche's situation has become even more difficult recently. The company's sales in China have declined, and there are also problems in the electric vehicle segment. Volkswagen has also lowered its annual profit forecast and expects the operating profit margin to be around 1%.

If the new plan is approved, roughly one in every five jobs at Porsche will be eliminated by 2035. The company has not commented on the reported information.

Source: Yahoo Finance