Economy · World
Porsche plans significant job cuts and price hikes
Porsche intends to reduce its global workforce by 25% to 30%, amounting to approximately 9,000 job terminations by 2030. This move is attributed to declining sales in China and a strategic shift towards electric vehicles, with the company aiming to increase profit margins by focusing on fewer, more expensive car models. Consequently, Porsche anticipates a price increase of up to 20% for its vehicles. Separately, Pfizer is reportedly cutting around 330 jobs in Italy.
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- Centre (2): Mint, The Economic Times