Porsche to cut 4000 jobs in Germany:
The cuts will mainly affect managerial and administrative staff, reports the German publication Handelsblatt.
Additionally, the company will explore the possibility of reducing the capacities of its engineering and research center in Weissach, located near Stuttgart, by 30%.
Porsche, whose controlling stake is owned by Volkswagen Group, has already planned to cut 1900 jobs by 2029 as part of a sharp cost-cutting strategy.
