Porsche now plans to trim roughly 9,000 jobs through 2035, representing over 21% of its workforce.
The company has struggled with a collapsing business in China and a difficult transition to EVs.
It's a bummer for EV fans, as the cost crunch makes Porsche less likely to embark on moonshot EV programs.
Things are not going well for Porsche. As the company faces a tough market in China and a tumultuous pivot to EVs, it's bleeding cash. To stem the flow, the company announced yet another round of job reductions on Monday, now affecting a total of 9,000 jobs through 2035.
The jobs will be trimmed largely by through natural attrition, early retirement schemes, and some voluntary buy-outs, per Porsche. Together, the 5,000 jobs trimmed today, combined with the roughly 4,000 in previously announced cuts, represent 21% of the 42,066 employees that Porsche had during fiscal year 2025, per its latest sustainability report.
