Slump Sales Forces Porsche to Cut Workers’ Hours

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Porsche, the popular sports car maker from Germany, said that they are now eyeing an 18-day shorter working hours for all its employees following disappointing sales in key sports car markets all over the world.

However, Porsche said that it still has a profit margin of at least ten percent, making them the most profitable car company.

German sports car specialist Porsche on Thursday announced that it will be cutting workers’ hours following slumps sales in the past few months due to the worst economic recession after the Great Depression.

Porsche, the maker of the popular 9111 sports car series, said that it will be implementing shorter working hours in its main plant in Zuffenhausen, Germany for at least 18 days before the end of 2009.

In a statement released on Thursday, Porsche argued that they are “forced” to further cut the working hours of all its employees after its sales continue to crash. Earlier, the carmaker imposed a flexible time schedules for its workers to avoid major cuts in its workforce.

The employees agreed to the time management deal offered by the company but Porsche Personnel Director Thomas Edig said that it already reached its limits.

Porsche’s fiscal year started last August 1, which according to Edig, was not expected to bounce back immediately. A weak export market in key cities has affected the company’s status.

In July, the company forecasted a $7.15 billion pre-tax loss for the year after failing to take over another German automaker Volkswagen.

But despite the slumping sales in its sports car line, Porsche boasted that they remain the most profitable car maker in the world, with at least 10 percent profit margin for the year.

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Slump Sales Forces Porsche to Cut Workers’ Hours

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