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Porsche CEO Michael Leiters stated that the company's management is discussing with employee representatives potential changes to headcount, while also evaluating additional measures to maintain the competitiveness of its manufacturing locations.
The discussions are "in full swing," and additional information regarding the layoffs cannot be shared at this moment, he stated during Porsche's annual shareholder meeting on Tuesday.
Leiters previously proposed a strategy to enhance the automaker's efficiency and increase profitability following a comprehensive review due to the gradual acceptance of electric vehicles, the fragility of the Chinese market, and US tariffs.
The company has started to divest certain assets, such as selling its share in Bugatti Rimac, a collaboration that holds the luxury sports car brand Bugatti. In May, Porsche revealed the shutdown of multiple non-essential operations, including its battery division.
On Tuesday, Leiters mentioned that he was concentrating on the essential business sectors of the company, systematically adjusting its operations to align with market conditions, and fully optimizing them.
"To maintain our long-term competitiveness, the optimization measures we had previously planned will be inadequate," he cautioned.
Porsche intends to reveal its comprehensive strategy for the timeframe leading to 2035 during an investor event in October.
source: ft.com
The discussions are "in full swing," and additional information regarding the layoffs cannot be shared at this moment, he stated during Porsche's annual shareholder meeting on Tuesday.
Leiters previously proposed a strategy to enhance the automaker's efficiency and increase profitability following a comprehensive review due to the gradual acceptance of electric vehicles, the fragility of the Chinese market, and US tariffs.
The company has started to divest certain assets, such as selling its share in Bugatti Rimac, a collaboration that holds the luxury sports car brand Bugatti. In May, Porsche revealed the shutdown of multiple non-essential operations, including its battery division.
On Tuesday, Leiters mentioned that he was concentrating on the essential business sectors of the company, systematically adjusting its operations to align with market conditions, and fully optimizing them.
"To maintain our long-term competitiveness, the optimization measures we had previously planned will be inadequate," he cautioned.
Porsche intends to reveal its comprehensive strategy for the timeframe leading to 2035 during an investor event in October.
source: ft.com