Porsche is threatening to cut a quarter of jobs at its German headquarters and nearby sites, the group’s works council has warned, as the carmaker battles a slump in Chinese demand, a costly shift to electric vehicles and US tariffs.
Ibrahim Aslan, head of the company’s works council, said Porsche was “threatening to relocate development and production to countries with significantly lower wages”.
The comments from the works council, which represents Porsche employees, come as it is locked in bruising negotiations with management over a cost-cutting plan to help staunch losses at the company, which reached almost €1bn in the third quarter.
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