New boss Michael Leiters has been tasked with turning around the brand. Porsche posted a 93 percent decline in operating profit last year. Tariffs and an over-commitment to EVs have hurt the company. Volkswagen isn’t the only one trimming headcount in Europe’s largest automaking group. A new report says Porsche is preparing its own round of job cuts, with the supervisory board having signed off on a wider restructuring package to go along with them. The German sports car maker is now run by Michael Leiters, who spent just under three years as chief executive of McLaren before taking the job. He replaced Oliver Blume, who had been splitting his attention between the top seats at both VW and Porsche. Read: Porsche’s Mega SUV Drops EV Plan For V8 Power And An Audi Link As part of his efforts to turn the company around, Leiters could cut between 5,000 and 6,000 jobs by 2035, in addition to the 3,900 redundancies already announced while P...
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