India, July 27 -- Monday, Porsche AG (P911.DE) announced its plan to cut an additional 5,000 jobs by 2035 as part of the Future Package, which aims to strengthen the competitiveness of the sports car manufacturer, reduce personnel costs, and increase productivity.
The Future Package is a key component of Strategy 2035, and was negotiated by the Executive Board and the General Works Council with IG Metall and the Sudwestmetall employers' association.
The workforce reduction would be carried out largely through natural attrition, demographic effects, the expansion of the special partial retirement program and voluntary severance agreements.
As part of the plan, the company stated that a total of 3.5 percent of the current collectively agre...