Porsche to cut 1,900 jobs in trouble with electric cars

Porsche is not getting through the difficulties that manufacturers are facing. The Stuttgart firm has announced a program. 

Porsche is not getting through the difficulties that manufacturers are facing. The Stuttgart firm has announced a program to cut 1,900 jobs in the face of a complicated industry. The transition to electric cars and financial difficulties are a delicate mix for manufacturers. Many of them have already announced social plans, such as Volkswagen in Germany.

Others are going further and will have to find investors to ensure their survival in the medium term. This is particularly the case for Nissan, which certainly regrets having put an end to the merger project with Honda.

While some luxury manufacturers seem to be getting through this, such as Ferrari, this is not the case for Porsche. The German firm will have to cut around 4.5% of its payroll in the coming years.

This represents 1,900 jobs that the manufacturer will eliminate at two sites near Stuttgart. Porsche assures, however, that there will be no forced layoffs, and employees are protected until 2030. Retirements and hiring freezes will be prioritized.

There are many challenges to be met, for example the delay in the rise of electromobility or the difficult geopolitical and economic conditions," explained Andreas Haffner, HR Director at Porsche.