Porsche aims to secure second cost-cutting package by July: Report

Porsche CEO Michael Leiters said the company expects to quickly conclude talks on a second cost-cutting package, according to an interview with Frankfurter Allgemeine Sonntagszeitung. The automaker aims to reach an agreement with employees before factory holidays in July. Porsche is also planning lower production volumes and previously announced job cuts, including 1,900 layoffs in coming years.