Porsche Plans More Cost Cuts To Counter Tariffs, China Slump

Porsche AG warned its employees to brace for further cost reductions as the luxury-car maker seeks ways to offset declining sales in China and the escalating cost of US tariffs.

The manufacturer will start negotiations on additional reductions in the second half of this year, Chief Executive Officer Oliver Blume wrote in a memo to employees seen by Bloomberg. Management is following through on its pledge to find more savings after taking steps to reduce headcount earlier this year.

“Our business model, which has served us well for many decades, no longer works in its current form,” Blume said in ...