AUTOS
From Times Staff and Wire Reports
Porsche to Cut More Jobs: The German sports car maker, hit by a sharp drop in sales, plans to cut 1,000 more jobs by next August, trimming its work force to 6,200. Porsche blamed the cuts on continued lack of demand for its expensive cars in the United States and Britain, as well as slow economic conditions in Japan and Germany. Porsche sold 22,481 cars in the fiscal year ended July 31, down 15% from a year earlier.
