Porsche aims to cut around 1,900 jobs by 2029, reports DPA

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Another company that wants to stabilize profits in the economic downturn with well-known recipes is the luxury car manufacturer Porsche. By 2029, 1,900 jobs are to be lost.

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The automotive industry is going through a complicated phase, with many changes to be driven. In the midst of the controversy, Porsche plans to cut 1900 jobs in Germany in order to reduce...

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German luxury sports car manufacturer Porsche plans to cut around 1,900 jobs by 2029. The measure will affect the company's activities in the Stuttgart area, Germany. The DPA agency reported this, citing a statement from the company, which employed over 42,000 people at the end of 2023.

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German sports carmaker Porsche to cut 1,900 jobs

Frankfurt, Germany — Sports car manufacturer Porsche said Thursday it will axe 1,900 jobs after sales slumped in China and amid a tricky shift to electric vehicles, the latest blow for Germany’s stalling auto sector. The cuts will be made in the coming years in Germany, at the luxury brand’s Stuttgart headquarters and the firm’s

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The cuts are expected to be completed by 2029. Dismissals for business reasons are not possible a priori, so the company must rely on “voluntary and socially acceptable procedures.” The parent company crisis

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Porsche to cut 1,900 jobs in Germany as weak EV demand bites

Announcement comes as luxury-car maker warned of lower profitability, well below its long-term target