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EN590 Commodities GroupMarket Analysis 2026-07-27T14:02:00+00:00
BERLIN, July 27 (Reuters) - German luxury carmaker Porsche will cut 9,000 jobs in total by 2035, it said on Monday, as parent Volkswagen and its brands restructure in the face of weak demand and stiff competition. In a deal announced after months of negotiations, Porsche management and labour representatives agreed to 5,000 additional job cuts that avoid compulsory redundancies through measures like natural attrition and voluntary schemes. These measures follow a first package of 3,900 job cuts and another 500 announced by new CEO Michael Leiters earlier this year linked to the closure of subsidiaries. On becoming CEO at the start of the year, Leiters was tasked with overhauling the business after sales in Porsche's once highly lucrative China market collapsed and its EV strategy sta
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