German luxury carmaker Porsche intends to intensify its cost-cutting program and is demanding far-reaching concessions from its workforce that could include further job cuts, local media reported late Wednesday.
The Volkswagen subsidiary has been hit hard by U.S. tariffs and a collapse in the luxury market in China, while executing a costly U-turn on electric vehicles due to a lack of demand.
The new cuts focus on Porsche's main plant in Zuffenhausen,
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