Porsche to cut 9,000 jobs by 2035 amid weak demand, EV challenges
Porsche will cut 9,000 jobs by 2035, representing about one in five positions, as it restructures amid weak demand and competition in the electric vehicle market. The decision follows an agreement to implement 5,000 additional job cuts through voluntary measures, building on earlier reductions of 3,900 jobs and 500 linked to subsidiary closures. The company will invest €2.1 billion in its Stuttgart plant and R&D center while extending site guarantees through 2035.