It looks like Porsche needs to start layoffs due to poor EV demand. Luxury carmaker Porsche AG has announced plans to further reduce its workforce by 1,900 jobs over the next four years. This decision follows an initial workforce reduction program that has been deemed insufficient. The move reflects the company's efforts to navigate economic uncertainties and the transition to electric mobility. Porsche's Workforce Reduction Plan The German automaker, majority-owned by Volkswagen AG, aims to cut 15% of positions at its key sites in Stuttgart-Zuffenhausen and Weissach by 2029. However, the company remains committed to its location safeguarding agreement, which prevents forced redundancies until 2030. In 2024, Porsche had already taken steps toward downsizing by not renewing the contracts of 1,500 fixed-term employees. An additional 500 contracts are now reaching their end.