Porsche to Cut 1,900 Jobs as EV Transition and Global Sales Slow
The German automaker cites delayed EV adoption, declining demand in China, and economic challenges as key factors behind its workforce reduction plans.
- Porsche will reduce its workforce by 1,900 employees at its Zuffenhausen and Weissach facilities in Germany by 2029, representing a 15% cut at these sites.
- The job cuts will occur through voluntary measures such as early retirement and severance packages, with no forced layoffs planned until at least 2030 under a job security agreement.
- The company attributes the reductions to slower-than-expected EV adoption, a 3% decline in global deliveries in 2024, and a 28% drop in sales in China, its key market.
- Porsche plans to shift focus toward internal combustion and hybrid powertrains to stabilize profit margins, which are projected to fall to 10%-12% in 2025, down from its long-term goal of 20%.
- The automaker faces increasing competition from Chinese EV makers and challenges in developing next-generation electric models, including delays in the all-electric 718 Boxster and the battery-powered Cayenne SUV.
Electrek 
Deutsche Welle 