ET Net News Agency reported on the 8th that Porsche announced a restructuring plan on Wednesday (7th), aiming to cut approximately 9,000 jobs by 2030, equivalent to 25% of its total workforce.
Porsche stated that the scale of job cuts could eventually reach up to 30% of its total workforce, with some reductions previously announced. The company's profit margin last year was only 1.1%, compared to 18% two years ago.
Porsche CEO Michael Reith announced the restructuring plan during a capital markets day event. The core of this strategy is 'selling fewer cars, but at higher prices'.
Porsche plans to increase the average price of its high-end models by about 20% in the medium term, while reducing the number of models and configuration variants by approximately 20%.
According to reports, Porsche's declining performance was one of the main reasons Volkswagen Group announced last month a provision of 6 billion euros for impairments. Additionally, the U.S. tariffs imposed last year brought about an additional cost of approximately 700 million euros to the Volkswagen Group. (rc)
Porsche stated that the scale of job cuts could eventually reach up to 30% of its total workforce, with some reductions previously announced. The company's profit margin last year was only 1.1%, compared to 18% two years ago.
Porsche CEO Michael Reith announced the restructuring plan during a capital markets day event. The core of this strategy is 'selling fewer cars, but at higher prices'.
Porsche plans to increase the average price of its high-end models by about 20% in the medium term, while reducing the number of models and configuration variants by approximately 20%.
According to reports, Porsche's declining performance was one of the main reasons Volkswagen Group announced last month a provision of 6 billion euros for impairments. Additionally, the U.S. tariffs imposed last year brought about an additional cost of approximately 700 million euros to the Volkswagen Group. (rc)