Porsche CEO Oliver Blume warned the nearly 37,000-strong German workforce he will negotiate with its labor union in the coming months over further cost cuts. Already, it plans to eliminate more than a tenth of its staff by 2029 to position the brand for a world where it sells only 250,000 cars annually, rather than the 311,000 it achieved last year. A combination of plunging demand in China and effects from Trump’s economic agenda are hitting the export-reliant luxury sports car maker hard.
https://fortune.com/2025/07/21/porsche-china-trump-tariffs-exports-cars-volkswagen-oliver-blume-layoffs/