Porsche could face another round of job cuts as Volkswagen looks to strengthen its struggling sports-car business. As per reports, documents from VW’s supervisory board propose reducing the brand’s workforce by around 4,100 employees.
The reported cuts would come on top of existing agreements. Porsche management and employee representatives agreed in July to eliminate another 5,000 positions, following around 4,000 cuts outlined in an earlier restructuring programme.
The latest proposal is reportedly linked to a €700 million ($803.8 million) shortfall in planned overhead savings. However, Volkswagen can only recommend such measures because Porsche operates as a separate company.
Source: Handelsblatt via Reuters
