Porsche’s CEO is working to finalize a new cost-cutting package by July, according to FAS reports

Porsche CEO Michael Leiters anticipates a prompt resolution to discussions regarding a second cost-reduction initiative at the German sports car manufacturer, as stated in an interview with Frankfurter Allgemeine Sonntagszeitung released on Saturday. “We aim to finalize an agreement with the employees prior to the factory holidays in July.

Porsche employees require clarity,” Leiters stated.

Porsche has announced plans to eliminate 1,900 jobs in the upcoming years, following the layoff of 2,000 temporary workers last year.

Leiters indicated that Porsche intends to reduce its production capacities compared to the approximately 280,000 cars sold last year. “Porsche has to make money with fewer cars,” Leiters shared with FAS. He also mentioned that Porsche plans to enhance collaboration with its sister company, Audi.

The entry-level 718 series will persist.

Porsche experienced a further decline in profit during the first quarter of 2026, facing increasing challenges from tariffs, geopolitical turmoil, and gaps in its model lineup.