Porsche CEO aims to finalise new cost-cutting package by July

Porsche's CEO anticipates a swift resolution to cost-cutting talks, aiming for employee agreement before July holidays to provide clarity. The company plans to reduce production and make money with fewer cars, following previous job cuts. Porsche ...

By Reuters | Jun 20, 2026, 10.53 AM IST

Porsche CEO Michael Leiters expects a swift conclusion to negotiations on a second cost-cutting package at the German sports car maker, according to an interview with ‌Frankfurter ⁠Allgemeine ⁠Sonntagszeitung published on Saturday.

"We want to reach an agreement with the employees before the factory holidays in July. Porsche employees need clarity," Leiters said.

Also read: It ain't a Ferrari, if it don't look Ferrari

Porsche has previously said that ⁠it will ‌axe 1,900 jobs in the coming years after laying ⁠off 2,000 temporary workers last year
According to Leiters, Porsche plans lower production capacities than the around 280,000 cars sold last year
"Porsche has to make money with fewer cars," Leiters told FAS
Porsche also plans closer cooperation with sister company Audi, Leiters said
Entry-level 718 ⁠series will continue
Porsche saw its profit erode further in the first quarter of 2026 as deals with mounting challenges from tariffs, geopolitical turmoil and gaps in its model lineup

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Porsche CEO aims to finalise new cost-cutting package by July

Porsche's CEO anticipates a swift resolution to cost-cutting talks, aiming for employee agreement before July holidays to provide clarity. The company plans to reduce production and make money with fewer cars, following previous job cuts. Porsche ...

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