(FILES) The logo of German car producer Porsche AG is pictured on the sidelines of the launch of the company’s initial public offering (IPO) at the Frankfurt Stock Exchange in western Germany.(Photo by Daniel ROLAND / AFP)
German luxury sports car maker 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.
The plan includes the “socially responsible reduction of a further 5,000 jobs by 2035, largely through natural attrition, demographic effects, the expansion of the special partial retirement programme and voluntary severance agreements,” the company said in a statement.
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