Porsche plans to cut 9,000 jobs by 2035. The German luxury carmaker's profits have dropped by more than 90%.
A 90% profit collapse
The company's earnings took a massive hit. While Porsche hasn't disclosed exact figures, the decline of over 90% marks one of the steepest drops in its recent history. The job cuts are part of a broader effort to reduce costs and adapt to a tougher market.
9,000 jobs on the line
The positions will be phased out over the next 11 years. That's a significant reduction for a company that employs roughly 90,000 people worldwide. Porsche plans to rely on natural attrition and early retirement to minimize layoffs, though some involuntary departures are expected.
Why the cuts are happening
Porsche's profit plunge comes amid rising costs, supply chain disruptions, and a costly shift toward electric vehicles. The company is investing heavily in new technology, which has squeezed margins. The job cuts are meant to streamline operations and protect long-term profitability.
Porsche hasn't specified which departments or regions will be most affected. The company also hasn't provided a detailed timeline beyond the 2035 target.
