Porsche chief denies plans for additional job cuts
Porsche ($P911)’s chief executive told employees that no additional 4,000 job cuts were planned beyond measures already approved by the board, according to a memo reviewed by Reuters. The message responded to reporting about further potential workforce reductions. The clarification does not reverse the existing restructuring program or the previously announced earnings deterioration. It addresses the prospect of additional cuts, rather than announcing a recovery in demand or an improved profit f
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