Porsche to Invest €2.1 Billion in Germany by 2035 and Cut 5,000 Jobs

Porsche announced plans to invest a total of €2.1 billion by 2035 in its two German plants in Stuttgart-Zuffenhausen and Weissach. The company also unveiled a series of measures aimed at reducing labor costs and enhancing factory flexibility and production efficiency. These include cutting 5,000 jobs over this period through "socially responsible" means, primarily via natural attrition, expanded partial-retirement schemes, and voluntary departure agreements. The plan was agreed upon with the works council on July 27.