(FILES) The Porsche Emblem is pictured during the Concours of Elegance at Hampton Court Palace, south west of London on September 5, 2025. German luxury sports car maker Porsche, a subsidiary of the Volkswagen Group, said on July 27, 2026 it would cut 5,000 jobs by 2035 as part of a strategic realignment to boost competitiveness. The plan includes the "socially responsible reduction of a further 5,000 jobs by 2035, largely through natural attrition, demographic effects, the expansion of the special partial retirement programme and voluntary severance agreements," the company said in a statement. (Photo by Rhianna Chadwick / AFP via Getty Images)