Porsche Wants to Cut 1900 Jobs in Two German Factories

Porsche announced on Thursday that it wants to cut around 1900 jobs in two factories in Germany by 2029.

Forced redundancies are excluded because there are job guarantees for employees until 2030. The company will, therefore, have to rely on employees who leave voluntarily.

Things are going wrong within Porsche. The job cuts are in addition to the previously decided savings, by not extending the contracts of temporary employees.

Earlier this month, the company unexpectedly announced that it wanted to say goodbye to financial director Lutz Meschke and sales director Detlev von Platen. It is not yet known why.

The German newspaper Bild reported earlier that the managers are held responsible for Porsche’s weak performance and the low stock price. The manufacturer sold almost 311,000 cars last year, about 3 percent less than the year before.

In China, sales plummeted by 28 percent. Experts expect that 2025 will also be a difficult year for Porsche.