Porsche Could Cut Jobs as It Pushes Ahead With Turnaround Effort

By Dominic Chopping

Porsche is in talks to cut jobs as it pushes ahead with a broader streamlining plan that seeks to put the German sportscar maker on firmer footing for the future.

Open discussions are underway with employee representatives on the adjustment of employee numbers alongside other initiatives to ensure the competitiveness of Porsche's sites, Chief Executive Michael Leiters said in a statement from the company's annual shareholder meeting Tuesday.

The CEO previously outlined plans to streamline the automaker and boost profit by realigning the strategy to counter a slow uptake of electric vehicles, weakness in China, and U.S. tariffs.

The company has already begun by shedding non-core assets, with an agreement to sell out its stakes in hypercar joint venture Bugatti Rimac and electric-vehicle maker Rimac Group. It has also moved to shut down its battery-tech developer Cellforce Group, e-bike electric drive systems developer Porsche eBike Performance and Cetitec, a company that produces specialized software for data communications.

In the same statement, Leiters said he is focusing the company on its core business, structurally adapting the organization and streamlining it across the board.

"But in order to secure our competitiveness in the long term, the streamlining of the company planned so far will not be enough," he said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

June 23, 2026 04:52 ET (08:52 GMT)