Porsche's supervisory board has endorsed a sweeping cost-reduction package, with a works council meeting scheduled for Monday, as the automaker plans to eliminate an additional 5,000 to 6,000 positions by 2035.
Chief executive Michael Leiters, who first announced job cuts in March 2026, has extended employment guarantees for German sites through 2035 while capping annual bonus payments and reducing holiday bonuses. Existing measures already account for roughly 1,900 roles in the Stuttgart region, 2,000 expired fixed-term contracts, and the closure of three subsidiaries. The company, confronted by declining Chinese sales and rising import tariffs, delivered about 122,300 vehicles in the first half of 2026, down 16 percent year-on-year.
In a leadership reshuffle, production chief Albrecht Reimold will depart on September 1, 2026, succeeded by Christian Friedl, a close confidant of Volkswagen CEO Oliver Blume. Leiters is also pursuing a new flagship sports car above the 911 line, with a design study due in October.