BERLIN, - German carmaker Porsche will cut another 5,000 jobs by 2035 under a second package of restructuring measures agreed between management and labour representatives, both sides said in a joint statement on Monday.The measures at Porsche, a Volkswagen subsidiary that has gone from profit driver to crisis case in recent years, comes ahead of a broader showdown over drastic cuts proposed across the group, which is battling high costs, stiff competition and tariff woes.The latest Porscheredundancies follow a first package of 3,900 job cuts and another 500 announced by new CEO Michael Leiters earlier this year. They will be carried out in a socially responsible manner, the statement said.The deal also includes an extension of plant location guarantees by five years until 2035 and €2.1 billion ($2.39 billion)in investments in its Zuffenhausen and Weissach factories, it added.
Porsche to cut another 5,000 jobs
Porsche will eliminate another five thousand jobs by the year 2035. This decision follows previous job cuts and is part of restructuring measures. The German carmaker is investing two point one billion euros into its factories. These investments will support its Zuffenhausen and Weissach production sites.
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