CEO: Porsche to cut production, jobs in new cost-saving push

Porsche is moving to cut costs further and scale back production as it seeks to boost profitability amid weaker earnings and a challenging market environment, its chief executive said.

Chief executive Michael Leiters said talks on a second cost-cutting package were “close to completion” and that the company aimed to reach an agreement with staff before the start of the summer factory shutdown in July, Caliber.Az reports via German media.

“Employees need clarity,” he said.

The sports car maker has already announced plans to eliminate around 1,900 jobs in the coming years, in addition to shedding about 2,000 temporary positions last year.

Leiters also said the company intends to reduce production volumes compared with last year, when deliveries stood at roughly 280,000 vehicles, adding: “Porsche must earn more by producing fewer cars.”

The company is also seeking to deepen cooperation with its sister brand Audi as it restructures operations. Production of its entry-level Porsche 718 line will continue, he said.

Porsche reported weaker first-quarter 2026 profits, hit by trade tariffs, geopolitical uncertainty and delays in updating its model range.

By Aghakazim Guliyev