Porsche Automobil Holding SE is finalizing new cost-reduction negotiations to manage vehicle production cuts. CEO Michael Leiters aims to reach an agreement with employee representatives before the July summer break. This timeline provides the workforce with clarity before the seasonal factory shutdown.
The German automaker faces mounting pressure from U.S. tariffs, European competition, and weak demand in China. Porsche projects production will fall below the 280,000 vehicles sold last year.
These measures supplement an existing workforce reduction plan to improve profitability. The company will also expand its collaboration with Audi to meet financial goals.