Porsche to cut 5,000 additional jobs while extending site guarantees to 2035

German luxury automaker Porsche has agreed with its works council to eliminate approximately 5,000 additional positions over the coming years. The agreement followed negotiations involving trade union IG Metall and the Südwestmetall employers' association.

Combined with previously announced downsizing plans, total headcount reductions at the manufacturer will reach roughly 8,900 roles. Management stated that the positions will be eliminated through socially responsible measures, including natural turnover, demographic shifts, partial retirement schemes, and voluntary severance packages.

In exchange for the workforce restructuring, Porsche has agreed to extend its job security guarantee for remaining staff at its German facilities through 2035. The downsizing comes as the company continues to navigate broader operational challenges in the automotive sector.

Sources: FAZ, ORF.