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Is Porsche the latest to fall?

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gtgarner

P3D over 181k miles
Supporting Member
Sep 8, 2023
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South Holland
Porsche lays off 600 Employees

During an employee meeting on Wednesday Porsche CEO Blume said "Next year will be the hardest". "There will be a chain of risk scenarios" the CEO continued.

Blume continued to speak in soccer metaphors: "2024 will be the first time we concede goals, but if Porsche stands together as a team, the game could also end 4:3 for Zuffenhausen.

That doesn't sound as if he is confident about the new all-electric Macan, which Porsche will be delivering starting in 2024.

However, it is not just the model series that are experiencing poor sales figures for the first time due to new launches he said. At the meeting at Group headquarters, Blume said that Porsche was affected by inflation and that suppliers were causing high costs. According to Blume, the situation is as serious as in the CoVid years for the car manufacturer.

For these reasons, Porsche is not extending the fixed-term contracts of around 600 employees and let them go.


 
For these reasons, Porsche is not extending the fixed-term contracts of around 600 employees and let them go.

"not extending the fixed term contracts" does not = "Layoff". If you hire someone for a fixed term, and have the option to extend it, then choose not to, that doesnt mean you laid them off.

I mean, I dont have any particular opinion about the topic of "is porsche going to fail" other than to say that since its actually a part of VW (which is basically "european GM", with like 11-12 auto brands), I have no idea what "fail" means there since I dont think VW is going anywhere.

I do really kind of dislike media wordplay though, which is why I seldom engage in these type of discussions. "Laid off" is what happens to full time employees of a company that are terminated. Its not what happens to fixed term contractors whose contract is not extended. The end result is the same (someone is out of work) however if a company is not retaining fixed term contractors after their fixed term, then they made a prudent decision in making those people "fixed term contractors" instead of full time employees.