Porsche Is Laying Off Almost 1,900 Employees

Germany’s Porsche has joined others in the struggling auto industry in plans to lay off workers. On Thursday, the brand unveiled plans to cut around 1,900 jobs at its two factories in Stuttgart by 2029, according to dpa.

Porsche employees are contractually guaranteed employment until 2030, so the company will have to rely on voluntary departures. Last year, Porsche began reducing its workforce by ceasing to renew fixed-term contracts. Earlier this month, Porsche unexpectedly and without explanation fired CFO Luca Meschke and sales director Detlef von Platen.

The company is facing a decline in share value and falling sales in the important Chinese market. In addition, Porsche, which has developed an extremely ambitious plan to produce electric cars, recently announced that its focus is returning to vehicles with a conventional engine.

“The goal is to reduce the number of jobs at Porsche AG with the main sites in Zuffenhausen and Weissach by 15 percent by 2029,” said a Porsche spokesperson. It is thus clear that only the two sites in the German state of Baden-Württemberg are affected. For example, the Leipzig plant, where the electric Macan is built, is excluded from the plans.

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