German sports car manufacturer Porsche announced that it plans to reduce its workforce as part of declining sales and cost-saving measures. The company, the majority of whose shares are owned by Volkswagen, stated that it is determined in this regard. According to the German newspaper Bild, Porsche CEO Michael Leiters aims to lay off 5 to 6 thousand employees by 2035. The report also noted that Porsche employees have been given "job guarantees" until December 31, 2035.

As part of the savings plan, Porsche is said to reduce its annual bonus and Christmas money payments. The company also plans to halve the number of vocational training positions.

Porsche had taken similar steps before. The company had announced that it would part ways with 1900 employees in Stuttgart and 500 in Leipzig by 2029. It was also stated that the contracts of approximately 2000 personnel would not be extended.