Porsche is preparing a new savings plan

The manufacturer of sports car Porsche has announced preparing a new savings plan in the face of the difficulties of the automotive sector which do not spare this flagship of the Volkswagen group. Therefore, are aggravated by the American commercial offensive. However, – Porsche preparing new savings plan

(Keystone-ATS) “The situation remains serious and the sector evolves in a very volatile manner,” Porsche’s management in a letter addressed to his executives, from which extracts have been transmitted to AFP on Friday.

The representatives of porsche preparing new savings plan employers. employees will therefore negotiate “a second train of structural measures”, indicates the mail without detailing the measures envisaged.

This savings program aims to guarantee “the performance of the long -term business”, continues the letter.

Management justifies this program by the “considerable challenges” that the company is faced on a global scale.

In China, where sales fell 28% in the first half, “the commercial environment has completely changed,” writes management. A “very technological. very aggressive local competition in terms of price” has developed in this country, while the luxury segment “has literally collapsed in a short time”.

Slow electric transition

The manufacturer of sports car also refers to the situation in the United States. where the sharp increase in customs duties and “especially the current development of the Dollars’ price” weigh on business.

In addition. the transition to electric mobility “is much slower than expected in certain regions of the world”, continues the management of porsche preparing new savings plan Porsche.

Porsche had already revised down. in April, his forecasts for the current year in April due to American customs policy, the slowdown in activity in China, and moderate demand for electric cars.

In February, the group announced the abolition of 1,900 jobs in Germany – out of 42,000 employees worldwide. In total, the manufacturer plans to reduce its workforce by 15% by 2029, avoiding forced departures.

The Volkswagen parent company. Additionally, in the midst of a competitiveness crisis, announced this winter to want to remove 35,000 jobs in Germany in its main VW brand and stop production in two of its factories.