Porsche CEO rules out additional 4,000 job cuts amid restructuring

Porsche CEO Michael Leiters told employees Monday that the company has no plans to cut another 4,000 jobs. He made the statement in an internal memo after reports suggested Volkswagen was considering about 4,100 additional reductions at the sports-car maker.

Porsche already has an approved restructuring plan covering 9,000 job reductions. That includes 4,000 positions agreed earlier and another 5,000 reductions announced in July, mostly through natural attrition, retirement programs and voluntary severance through 2035. Leiters said Porsche does not expect changes to the existing plan.

The clarification follows fresh pressure on Porsche after Volkswagen sharply cut its 2026 profit-margin outlook. Volkswagen also booked major impairment charges linked largely to weaker expectations for Porsche. The luxury automaker has faced falling sales in China, U.S. tariffs and challenges from its electric-vehicle strategy. Leiters is scheduled to present Porsche’s future strategy at a capital markets day on October 7.