Porsche to cut 1,900 more jobs in workforce reduction

• Published On: 14 February 2025 at 07:30

Porsche AG plans to cut 1,900 more jobs over the next four years, citing the need for deeper cuts beyond its current program.

According to Reuters, the cuts will affect the company's main sites in Stuttgart-Zuffenhausen and Weissach, with a 15% workforce reduction expected by 2029.

Porsche, which is majority owned by Volkswagen AG, has confirmed that forced redundancies are not permitted under a location safeguarding agreement that is valid until 2030.

It began reducing its workforce in 2024 by not renewing 1,500 fixed-term contracts, and another 500 are about to expire, according to a spokesperson.

"That alone is not enough: the Executive Board and Works Council have therefore decided on a programme to cut around another 1,900 jobs across the entire company in the coming years," the spokesperson said in an emailed statement.

The company is also reducing its workforce through natural attrition, demographic changes, and a strict hiring policy, according to the spokesperson.

"Porsche remains in a comparatively good position. However, there are numerous obstacles to overcome, such as the delayed implementation of electromobility or the difficult geopolitical and economic conditions," said the spokesperson.