Porsche to lay off nearly 2,000 workers

The Stuttgart sports car maker intends to furlough around 1,900 employees until 2029 over declining profits and missed EV sale targets.

The company laid off around 2,000 factory workers last year after struggling to sell enough of its new electric vehicles. The decline was so big it resulted in a 3% dip of Porsche total vehicle sales year-on-year, to 311,000 examples in 2024.

The cuts will mainly affect the Porsche industrial sites in Stuttgart and Zuffenhausen, Germany. The company assures us that it will do everything in its power to avoid forcing people to quit. Those who agree will be getting monetary benefits and early pensions.