Porsche could double the scope of its redundancy programme with plans to cut another 5,000 jobs, German media reported on Wednesday, as the German carmaker's supervisory board met to discuss restructuring measures.
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The figure was reported by Manager Magazin, citing unnamed sources. Bild newspaper reported that CEO Michael Leiters planned to cut between 5,000 and 6,000 jobs by 2035.
A spokesperson for the company declined to comment.
Margins at Porsche, long one of the Volkswagen Group's most profitable businesses, have crashed in recent years from comfortable double-digit percentages to only 1.1% last year.
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