Porsche plans pricier cars, staff cuts | Northwest Arkansas Democrat-Gazette

Porsche says it will cut a quarter of its workforce and scale back plans in China as its profit margin fell to 1.1% last year, down from 18% two years earlier. Speaking from the company’s development hub near Stuttgart, led by CEO Michael Leiters, Porsche is shifting toward “value over volume,” betting on higher-priced sports cars rather than broader volume growth. By around 2030, Porsche targets reducing 25% of staff, about 9,000 jobs, and could go as high as 30% after some cuts are already underway. It also plans to cut development costs by up to a fifth and raise average prices of its top models by about 20% to 330,000 euros.