At sports car manufacturer Porsche, negotiations on a second cost-cutting package are entering a decisive phase. Both sides met again last weekend for talks, according to an intranet post obtained by the German Press Agency. However, negotiations between Porsche management—led by CEO Michael Leiters—and employee representatives have not yet been concluded.
According to the post, an agreement is expected to be reached by the end of July: “The talks were long, intensive, and at times difficult,” Leiters is quoted as saying in the post. But significant progress has been made. “Now it’s a matter of working out the details before we present the results at the end of July. Until then, we have agreed with the employee representatives to maintain confidentiality.”
Ibrahim Aslan, head of the General Works Council, also saw progress: “We’re making progress, but on the way to an agreement, there are still a few hurdles to clear. We won’t let up on that.” The details discussed over the past weekend would now be finalized within the committees. “And then, of course, we’ll inform our employees internally first, because the team is our top priority.”
