Porsche AG is finalizing a second round of cost-cutting measures and vehicle production reductions.
The automaker expects to reach an agreement with employee representatives before the July summer break.
Management attributes the shift to U.S. tariff policies and intensifying competition within the European market.
CEO Michael Leiters stated the company must generate profit from lower volumes as production and sales forecasts decline year-over-year.
This new package complements an existing initiative to reduce the company's headcount.
Porsche will also expand its collaboration with Audi to improve overall financial performance.