Porsche to shed 5,000 jobs by 2035 under German factory pact
The company, which employs roughly 40,000 people, has pledged to remove some management layers, simplify its organisation and reduce research and development spending.The new agreement includes €2.1 billion of investment at Zuffenhausen and Weissach as part of an effort to shore up its German operations. BLOOMBERGMore on this topicMicrosoft joins AI-driven tech layoff wave with 4,800 job cutsLazada joins growing list of firms cutting jobs in Singapore. Here are the othersSee more onGermanyEmploymentJob cutsPorscheAutomobile sector
- ▪The company, which employs roughly 40,000 people, has pledged to remove some management layers, simplify its organisation and reduce research and development spending.The new agreement includes €2.1 billion of investment at Zuffenhausen and
- ▪BLOOMBERGMore on this topicMicrosoft joins AI-driven tech layoff wave with 4,800 job cutsLazada joins growing list of firms cutting jobs in Singapore.
- ▪Here are the othersSee more onGermanyEmploymentJob cutsPorscheAutomobile sector
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| Original publisher | Straits Times — World |
| Canonical URL | https://www.straitstimes.com/world/porsche-to-shed-5000-jobs-by-2035-under-german-factory-pact |
| Publication time | Mon, 27 Jul 2026 22:14:00 +0800 |
| Retrieval time | 2026-07-27T14:16:22.265Z |
| Last seen | 2026-07-27T14:16:22.265Z |
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Porsche to shed 5,000 jobs by 2035 under German factory pactSign up now: Get ST's newsletters delivered to your inboxThe agreement underscores the mounting pressure across Porsche parent Volkswagen. PHOTO: AFPPublished Jul 27, 2026, 10:14 PMUpdated Jul 27, 2026, 10:14 PMSet as preferred sourceSummarisePorsche will cut 5,000 jobs by 2035 through natural attrition, partial retirement, and voluntary severance, protecting its main German sites without compulsory redundancies.The job cuts come amid Volkswagen's challenges, including a 3% revenue drop forecast and high costs, driven by weak Chinese demand and slower electric car sales.Porsche plans €2.1 billion investment in German factories, alongside workforce reductions, management simplification, and reduced R&D spending to improve…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Straits Times — World.