German sports car manufacturer Porsche has announced 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 its determination in this regard. According to the German newspaper Bild, Porsche CEO Michael Leiters aims to lay off 5,000 to 6,000 employees by 2035. The report also noted that Porsche employees have been given a "job guarantee" until December 31, 2035.

As part of the savings plan, Porsche is reportedly reducing its annual bonus and Christmas bonus 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 1,900 employees in Stuttgart and 500 in Leipzig by 2029. It was also stated that the contracts of approximately 2,000 personnel would not be extended.