Russian barrage kills at least 24 across Ukraine on Putin's birthdayHouthi strikes on Saudi and Aden airports kill three foreigners in Saudi ArabiaTanker attacks in Hormuz hit weekly high as US and Iran dispute control of straitGlobal bond selloff resumes as US 30-year yield reaches highest since 2002IMF warns energy prices will stay high as IEA speeds oil stock releaseEritrean troops reported inside northern Ethiopia as ties collapseTanker burns off Sochi as Bulgaria ends search for sunken ship's crewKenya traces contacts after first Ebola death exposes screening gapsUS and WHO press Russia for details on suspected plague deathYemen displacement passes 200,000 as UN agencies warn of hungerThai flood toll climbs to at least 52 as new storms loomFrench bond yields rise again as central bank chief rules out ECB helpFrance suspends stun grenades at student protests as unrest spreads to BelgiumEU-China trade talks open after Beijing rejects voluntary hybrid curbsTurkey sends defensive support to Saudi Arabia while Syria denies joining Houthi fightSpaceX credit risk hits record after $40bn chip-financing reportEx-BND chief Hanning in custody as allies review shared intelligenceChrista Pike wakes and speaks after surviving Tennessee lethal injectionsIsrael marks three years since Hamas attack as strikes hit GazaMathematicians question vetting after OpenAI publishes hundreds of claimed resultsIndia's central bank raises rates for the first time since 2023EU ambassadors agree largest-ever expansion of Russia sanctions listShiroka-Pula takes office as Kosovo president while EU voices concern over court lawIraq devalues dinar as Hormuz disruption hits oil exportsHungary lifts veto as EU opens two negotiating clusters with Ukraine and MoldovaIsraeli forces raid West Bank towns and smash memorials as settlers attack homeLithuania to deploy army at Kaliningrad border as Denmark accuses Russia of sabotageUS forces on Okinawa put under curfew after Marine arrested over woman's killingFlávio Bolsonaro vows constitutional reform ahead of Brazil runoff as US Democrats question visa revocationShell expects record refining margins as Iran war reshapes fuel marketsAfD lawmaker elected Saxony-Anhalt parliament president, rattling Merz's coalitionChina opens pilot training base in LaosProbes widen after flydubai hijacking attemptEviction symbol Maricarmen dies as Spanish unions call general strikeParamount Skydance completes Warner Bros. Discovery takeoverGermany blocks Cosco takeover of Hamburg port logistics firmHackers used Chinese AI tool against South Korean banks; Qilin suspect held in GermanyAfrican Union launches continent's first credit rating agencyUK consulate in East Jerusalem prepares to closePorsche plans to cut 25% of workforce and shift to pricier carsNewsom condemns Trump's remark that Iran could 'take out' Los AngelesFinland orders Google to halt work at data centre sitesMyanmar's Min Aung Hlaing visits Malaysia amid concerns over Rohingya returnsIzmir mayor joins Erdoğan's partyFirst working nuclear clocks unveiled by Chinese and European teamsIndonesian wildfire haze makes Singapore's air the world's worstOman evacuates injured crew from attacked tanker in HormuzChatGPT for Teens judged an 'unacceptable risk' to childrenNATO military committee visits KyivLibya's eastern parliament removes speaker Saleh after 12 yearsJapan to cut hundreds of stocks from Topix in record revampRussian barrage kills at least 24 across Ukraine on Putin's birthdayHouthi strikes on Saudi and Aden airports kill three foreigners in Saudi ArabiaTanker attacks in Hormuz hit weekly high as US and Iran dispute control of straitGlobal bond selloff resumes as US 30-year yield reaches highest since 2002IMF warns energy prices will stay high as IEA speeds oil stock releaseEritrean troops reported inside northern Ethiopia as ties collapseTanker burns off Sochi as Bulgaria ends search for sunken ship's crewKenya traces contacts after first Ebola death exposes screening gapsUS and WHO press Russia for details on suspected plague deathYemen displacement passes 200,000 as UN agencies warn of hungerThai flood toll climbs to at least 52 as new storms loomFrench bond yields rise again as central bank chief rules out ECB helpFrance suspends stun grenades at student protests as unrest spreads to BelgiumEU-China trade talks open after Beijing rejects voluntary hybrid curbsTurkey sends defensive support to Saudi Arabia while Syria denies joining Houthi fightSpaceX credit risk hits record after $40bn chip-financing reportEx-BND chief Hanning in custody as allies review shared intelligenceChrista Pike wakes and speaks after surviving Tennessee lethal injectionsIsrael marks three years since Hamas attack as strikes hit GazaMathematicians question vetting after OpenAI publishes hundreds of claimed resultsIndia's central bank raises rates for the first time since 2023EU ambassadors agree largest-ever expansion of Russia sanctions listShiroka-Pula takes office as Kosovo president while EU voices concern over court lawIraq devalues dinar as Hormuz disruption hits oil exportsHungary lifts veto as EU opens two negotiating clusters with Ukraine and MoldovaIsraeli forces raid West Bank towns and smash memorials as settlers attack homeLithuania to deploy army at Kaliningrad border as Denmark accuses Russia of sabotageUS forces on Okinawa put under curfew after Marine arrested over woman's killingFlávio Bolsonaro vows constitutional reform ahead of Brazil runoff as US Democrats question visa revocationShell expects record refining margins as Iran war reshapes fuel marketsAfD lawmaker elected Saxony-Anhalt parliament president, rattling Merz's coalitionChina opens pilot training base in LaosProbes widen after flydubai hijacking attemptEviction symbol Maricarmen dies as Spanish unions call general strikeParamount Skydance completes Warner Bros. Discovery takeoverGermany blocks Cosco takeover of Hamburg port logistics firmHackers used Chinese AI tool against South Korean banks; Qilin suspect held in GermanyAfrican Union launches continent's first credit rating agencyUK consulate in East Jerusalem prepares to closePorsche plans to cut 25% of workforce and shift to pricier carsNewsom condemns Trump's remark that Iran could 'take out' Los AngelesFinland orders Google to halt work at data centre sitesMyanmar's Min Aung Hlaing visits Malaysia amid concerns over Rohingya returnsIzmir mayor joins Erdoğan's partyFirst working nuclear clocks unveiled by Chinese and European teamsIndonesian wildfire haze makes Singapore's air the world's worstOman evacuates injured crew from attacked tanker in HormuzChatGPT for Teens judged an 'unacceptable risk' to childrenNATO military committee visits KyivLibya's eastern parliament removes speaker Saleh after 12 yearsJapan to cut hundreds of stocks from Topix in record revamp
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Porsche restructuring

Where things stand

Porsche plans to cut 25% of its workforce as profits fall, according to the New York Times. CEO Michael Leiters is betting on pricier cars, new combustion models and a super sports car to lift the return on sales back to 15 percent, FAZ reports.

Porsche, the sports car maker in the Volkswagen group, has seen its profits fall and now faces pressure to reset its business model. Management under chief executive Michael Leiters is trying to restore profitability by cutting costs and repositioning the product range.

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Thursday, 8 October 2026Economy

Porsche plans to cut 25% of workforce and shift to pricier cars

According to the New York Times, Porsche plans to cut 25% of its work force as profits fall. FAZ reports that chief executive Michael Leiters is betting on pricier cars, new combustion models and a super sports car, aiming to lift the return on sales back to 15 percent.