New CEO says Porsche must become 'more compact' in cost-cutting drive
11/03/2026 07:33
BERLIN, March 11 (Reuters) - Cutting costs at Porsche P911_p.DE will be a key pillar of the German carmaker's recovery, new CEO Michael Leiters said on Wednesday, adding that job cuts planned so far will not be sufficient. "It is clear that Porsche will be more compact than it is today," Leiters told investors after presenting annual results. Around 4,000 job cuts have already been announced at the company, with a second package of measures being negotiated. (Reporting by Rachel More Editing by Ludwig Burger) ((rachel.more@thomsonreuters.com;))