Porsche has secured the support of its works council for a restructuring plan that includes the elimination of 5,000 jobs, according to reports from Het Financieele Dagblad.
The agreement comes as the automaker commits more than €2 billion to investments in two factories in the Stuttgart region, signaling a dual strategy of modernizing production capacity while reducing headcount.
The union's acceptance marks a critical milestone in Porsche's broader restructuring effort, which aims to stabilize profitability amid a challenging market environment.
Previous reports from Bild and Manager Magazin had indicated that CEO Michael Leiters was planning to cut between 5,000 and 6,000 positions by 2035.
The latest development confirms the lower end of that range and suggests the company has reached a consensus with labor representatives on the implementation path.
For investors, the resolution of labor negotiations reduces execution risk associated with Porsche's cost-cutting agenda.