BERLIN, (Pakistan Point News - 28th Jul, 2026) German sports car manufacturer Porsche announced on Monday that it plans to cut around 5,000 additional jobs over the coming years as part of a restructuring programme.
In a statement, the company said the workforce reduction will be achieved through early retirement, leaving vacant positions unfilled, and voluntary severance agreements, in order to avoid compulsory redundancies.
Combined with a similar plan announced last year, the total number of jobs to be eliminated will rise to around 9,000.
Porsche is facing challenges stemming from declining sales in the Chinese market, higher US tariffs, and weaker-than-expected returns on its substantial investments in electric vehicles.
