Stuttgart, Germany – Porsche has guaranteed job security for all of its employees for the next five years, along with uninterrupted production of the Boxster and 911 models in its factory in Zuffenhausen.
The company also said that, beginning in the spring of 2011, it will produce the Cayman at the Zuffenhausen plant. The body will continue to be supplied by Finnish assembly partner Valmet Automotive. In the summer of 2011, all segments of Porsche marketing will be centralized at the Zuffenhausen location.
The Board of Management and the Group Works Council reached a long-term agreement to secure production locations. The new regulations expire on July 31, 2015 and supersede current regulations that date back to 2005. The company said that it will make an investment in the “high hundreds of millions” in infrastructure and project innovations, and separate employee agreements will be reached in its German subsidiaries by the end of the year.
Porsche said that it will also hire 100 trainees or dual college students each fiscal year for technical and sales positions, and through 2015, pledges to hire graduates to positions with open-ended employment contracts.
“With this agreement securing production locations, we will be optimally positioned for growth in the coming years,” said Michael Macht, chairman of the board of Porsche AG. “This socially balanced compromise guarantees Porsche employees more job security in the future. It also guarantees the company a high degree of flexibility. With this agreement as a foundation, we are optimistic that we can increase sales and profits in the coming years. Worldwide, Porsche received the highest number of contracts in the company’s history during the months of June and July, proving that the company is on the road back to its former power.”