Porsche CEO Leiters assures staff no further job cuts planned, according to memo - TimesLIVE

Porsche CEO Michael Leiters has told staff there are 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.

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.

“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.

“We do not anticipate any changes to it.”