Porsche AG to Implement Significant Job Cuts

In a significant move, German sports car manufacturer Porsche AG has announced plans to reduce its workforce by 1,900 employees at its Zuffenhausen and Weissach plants in Germany. This decision was disclosed by Harald Buck, Chairman of the Works Council, and Andreas Haffner, HR manager, in an interview with Stuttgarter Zeitung on Thursday.

Job Security Until 2030

The company has assured that the job cuts, expected to be completed by 2029, will not affect the job security of its employees until 2030. Until then, operationally motivated layoffs are off the table, and the company will rely on voluntary redundancies to achieve its workforce reduction goals.

Impact on Temporary Contracts

As part of its cost-saving measures, Porsche has also decided not to renew temporary contracts. This decision has already impacted 1,000 temporary contracts, with another 1,000 expected not to be renewed in the near future.