Porsche's supervisory board ?gave ?its blessing to the next round ?of restructuring measures on Wednesday, a company spokesperson said, with media ?reporting plans to double job cuts at the embattled German carmaker to 9,000.
CEO Michael Leiters has been tasked with overhauling the Volkswagen sports-car subsidiary after it went from profit driver to crisis case, hit by a collapse ?in China ?sales, tariff woes and costly electric vehicle missteps.
Porsche management plans to cut ?another 5,000 jobs, Manager Magazin reported earlier on Wednesday, citing unnamed sources. Bild newspaper reported that Leiters was seeking between 5,000 and 6,000 job cuts by 2035.
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