Overhaul to trigger job losses as German car giant winds down operations at Cellforce
Overhaul to trigger job losses as German car giant winds down operations at Cellforce
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Owner Volkswagen to suffer €5bn hit as German carmaker revises long-term plans
The company is cutting 20% of its jobs by 2035. Some key models could be axed, too, which is bad news for EV fans.
Retreat is a blow for chief executive Oliver Blume who oversaw establishment of sports-car maker’s Cellforce unit
German carmaker has struggled with rising competition in China, a key market for European luxury brands
The luxury sports saloon initially enjoyed strong global sales in its first years on the market but has since seen demand fall…
Porsche plans to cut 9,000 jobs by 2035 after net profits plunged over 90%. The luxury automaker's restructuring signals broader…
