Porsche to cut 1,900 jobs as EV strategy hits roadblock
Porsche is cutting even more jobs after hitting a rough patch with its electric-vehicle strategy.
The luxury automaker will let go of 1,900 permanent staff in the coming years, as part of about 3,900 job cuts planned by 2030.
This move follows a big €3.9 billion write-down and weaker sales, especially in China, plus extra pressure from US tariffs.
More on Porsche's financials
Operating profit fell to €413 million. The company recorded a €3.9 billion writedown related to reversing its EV strategy.
Deliveries to China fell from 18% to about 15% of car deliveries.
Porsche said its operating margin could rise to about 5.5% in 2026.
What about its EV strategy?
Porsche has delayed parts of its new electric-vehicle platform, but electric Boxster and Cayman models are now expected in 2027 and the electric SUV K1 has been pushed to around 2029.
Porsche isn't giving up on electric vehicles entirely: gas-powered versions may possibly stick around too.
For now, expect a mix of classic engines, hybrids, and electrics as Porsche figures out its next move.