Porsche Plans 9,000 Layoffs and Product Line Restructuring Amid Declining Performance

Porsche's supervisory board has approved a new round of restructuring measures, planning to expand its workforce reduction to 9,000 employees. Previously, the company had outlined a plan to cut approximately 1,900 positions by 2029 and naturally reduce another 2,000 roles through the non-renewal of fixed-term contracts. On top of this, management now intends to eliminate an additional 5,000 positions. Other reports indicate Porsche aims to cut between 5,000 and 6,000 jobs by 2035. Meanwhile, parent company Volkswagen Group is pushing forward with an extensive cost-cutting initiative, which includes potentially discontinuing up to half of its current models by 2030, reducing optional configurations by 75%, and lowering annual production capacity from 10 million vehicles to 9 million. As part of this strategy, the Volkswagen brand is expected to discontinue the Jetta (sold as the Sagitar in China) and Taos first, without launching direct successors. At Porsche, the underperforming all-electric Taycan sedan will be phased out after the current model’s lifecycle ends, with no direct successor planned. The gasoline-powered Cayenne Coupe is also considered to be nearing the end of its product lifecycle.