Porsche to cut 1,900 more jobs by 2029 – reports

Amidst dropping China sales, high German production costs, intense competition and a slower-than-expected shift to EVs, Porsche wants to cut 1,900 more jobs at its Stuttgart headquarters and Weissach research centre over the next four years, reports AFP and Reuters.

Once among the Volkswagen Group’s more profitable firms, Porsche delivered 3% fewer cars in 2024, year-on-year, including a 28% drop in China. The carmaker, whose global workforce numbers around 42,000, already started down-sizing last year by not renewing 1,500 contract staff in Germany, but has now decided it needs to do more.

“We have many challenges to overcome,” Porsche human resources chief Andreas Haffner told Stuttgarter Zeitung, citing “the delayed ramp-up of electromobility and challenging geopolitical and economic conditions” while stressing that no cuts would be made via forced redundancies.

Porsche said last week that moving forward, it’s going to shift its focus away from EVs and to combustion-engined and plug-in hybrid (PHEV) vehicles. Other parts of Volkswagen are also not doing too well at the moment – by 2030, the group aims to cut 35,000 jobs and reduce production capacity by 734,000 units across its affected German plants.

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