Porsche management has sent an open letter to Volkswagen workers to reassure them about its intentions and try to ease concerns over their representation on the board of the new Porsche Holding SE.

According to the Wolfsburger Allgememeine Zeitung, the letter says that "Porsche stands for guaranteed jobs, guaranteed plants and guaranteed wages."

The head of Volkswagen's works council, Bernd Osterloh, welcomed the move by Porsche CEO Wendelin Wiedeking.

"We see this as a damage limitation and an attempt to win back lost trust," said Osterloh. "I would have preferred it, however, if Wiedeking had talked to us a few weeks ago. Then we could have saved ourselves a lengthy campaign," he said.

The letter noted that Porsche's shareholding in the company had led to uncertainty in the workforce.

"These concerns led to rumours and speculation that had nothing to do with reality."

It added that there will be no merger of the two companies . Even the Volkswagen works council will remain independent.

Osterloh said that he hopes actions will follow words and that the co-determination structure of the new Porsche holding company will be changed to give Volkswagen workers a greater say.

Osterloh also said he would like to hear more from Wolfgang Porsche. "In family-owned companies it is normal that the owner has a say on important issues. In this case that is Wolfgang Porsche, from whom we not yet heard anything. He cannot hide behind his management board."