Porsche ramps up job cuts to 9,000 by 2035 as profits crater over 90%

Porsche’s supervisory board has approved plans to eliminate roughly 9,000 positions by 2035, a dramatic escalation of a restructuring effort that started with far more modest ambitions. The latest round adds approximately 5,000 jobs to the roughly 3,900 cuts previously announced. Porsche’s German operations employ around 23,000 workers, meaning the company is looking at shedding close to 40% of that workforce over the next decade. How Porsche got here Porsche reported a decline of over 90% in net profits in the first half of 2026. Vehicle sales dropped 15% over the same period. The electric vehicle transition hasn’t helped either. Porsche has been investing heavily in electrification, but the shift has proven more expensive and less immediately rewarding than projected. CEO Michael Leiters, who took the helm in 2025, inherited a company already showing cracks. Before the latest round, Porsche had already shuttered three non-core subsidiaries, eliminating over 500 jobs as of May 2026. Where the axe falls The reductions are concentrated in administrative and R&D roles within Germany. Porsche has committed to handling the downsizing through voluntary severance packages, early reti...