German luxury sports carmaker Porsche, a subsidiary of the Volkswagen Group, said Monday it would cut 5,000 jobs by 2035 as part of a strategic realignment to boost competitiveness.

Porsche agreed to cut 5,000 more jobs by 2035, on top of 4,400 already announced. The VW subsidiary went from profit driver to crisis case. €2.1B in factory investment secured.

Stuttgart (dpa) - Der Sport- und Geländewagenbauer Porsche streicht bis 2035 weitere 5.000 Stellen in der Region Stuttgart. Betroffen sind das Stammwerk in Stuttgart-Zuffenhausen…