Porsche is reportedly planning to cut another 5,000 jobs, adding to the 3,900 layoffs already announced.
In exchange, the remaining workforce is expected to receive job security through 2035.
The company is betting its upcoming wave of new models will help reverse its sales slump.
To say Porsche is in a pickle would be a major understatement. Falling from a record 320,221 sales in 2023 to 279,449 units last year underscores the severity of the situation. While I’m not a prophet, 2026 is likely to be even worse, as demand fell 15 percent in the first six months of the year. Things will likely get worse before they get better.
The gas-powered Macan goes out of production this month, leaving a huge hole in the company’s lineup. Its direct successor won’t be ready until 2028 at the earliest. Elsewhere, Porsche stopped making the 718 models last October and won’t bring the Boxster and Cayman back until 2027 at the earliest. The two-door sports cars will return with electric drivetrains, alongside revived combustion-engine versions, the latter of which can't come soon enough.
