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Investing.com -- Porsche AG has announced plans to reduce its workforce by 1,900 employees by the end of the decade. The decision comes in response to a weak demand for electric vehicles and challenging geopolitical and economic conditions.
The German automaker has decided to reduce its headcount at two of its sites in Germany. The company will employ voluntary measures such as offering early retirement and severance packages to its employees. Additionally, Porsche will be taking a restrictive approach to new hires, as stated on Thursday.
The primary objective of these measures is to reduce staffing at their Zuffenhausen and Weissach locations by 15% by 2029. This strategic decision is a part of Porsche’s response to the current market conditions and future projections.
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