Porsche CEO aims to finalise new cost-cutting package by July

Porsche CEO Michael Leiters expects a swift conclusion to negotiations ​on a second cost-cutting package ‌at the German sports car maker, according to an interview with Frankfurter Allgemeine ​Sonntagszeitung published on Saturday.

"We want ​to reach an agreement with the ⁠employees before the factory holidays ​in July. Porsche employees need clarity," ​Leiters said.

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  Porsche has previously said that it will axe 1,900 jobs in the coming years ​after laying off 2,000 temporary ​workers last year
  
  

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  According to Leiters, Porsche plans ‌lower ⁠production capacities than the around 280,000 cars sold last year
  
  

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  "Porsche has to make money with fewer cars," ​Leiters told ​FAS
  
  

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  Porsche ⁠also plans closer cooperation with sister company Audi, Leiters said
  
  

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  Entry-level ​718 series will continue
  
  

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  Porsche saw ​its profit ⁠erode further in the first quarter of 2026 as deals with ⁠mounting ​challenges from tariffs, geopolitical ​turmoil and gaps in its model lineup
  
  

-Reuters