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Porsche CEO assures staff no further job cuts planned, according to memo - Finance news and analysis from Global Banking & Finance Review
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Porsche CEO assures staff no further job cuts planned, according to memo

Published by Global Banking & Finance Review

Posted on September 21, 2026

1 min read

· Last updated: September 21, 2026

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Porsche CEO Assures Staff No Additional Job Cuts Are Planned

Porsche Responds to Job Cut Speculation

CEO Michael Leiters Addresses Staff Concerns

BERLIN, Sept 21 (Reuters) - Porsche CEO Michael Leiters told staff there were no plans to cut an additional 4,000 jobs at the Volkswagen sports car subsidiary, according to an internal memo seen by Reuters on Monday.

Background: Handelsblatt Report and Supervisory Board Views

The CEO was responding to a Handelsblatt report that said Volkswagen's supervisory board viewed another 4,100 jobs at the brand as superfluous, on top of 9,000 layoffs already agreed.

Official Statement from Porsche CEO

"There are no plans to cut an additional 4,000 jobs at Porsche," Leiters said, adding that the existing restructuring plan had been approved by Porsche's own supervisory board.

Outlook on Restructuring Plan

"We do not anticipate any changes to it."

(Reporting by Rachel MoreEditing by Ludwig Burger)

Key Takeaways

  • Leiters pushed back on a Handelsblatt report citing VW’s supervisory board plan to cut another ~4,100 roles at Porsche, stating the current restructuring has supervisory board approval and no changes are expected (investing.com).
  • Porsche had already agreed to around 9,000 job cuts—including 3,900 in the first package, 500 via subsidiary closures, and 5,000 additional cuts through voluntary measures—extending through 2035 with site protections and significant investments (investing.com).
  • The broader context includes Volkswagen Group’s own ‘Future Plan 2030’, targeting 50,000 further job cuts across the group amid restructuring pressures, though Porsche retains autonomy over its internal plans (investing.com).

References

Frequently Asked Questions

Are there additional job cuts planned at Porsche?
According to a memo from CEO Michael Leiters, no additional job cuts are planned at Porsche beyond existing agreements.
How many job cuts had previously been agreed at Porsche?
A total of 9,000 job cuts had already been agreed upon in the existing restructuring plan.
Who approved Porsche’s current restructuring plan?
The restructuring plan was approved by Porsche's own supervisory board.
What prompted the CEO's memo to staff?
The memo responded to reports suggesting Volkswagen's supervisory board wanted to cut an additional 4,100 jobs at Porsche.

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