It looks like the situation could be even worse than expected. Porsche said it would cut 1,900 jobs at two German plants by 2029 (via Bloomberg ), blaming “challenging geopolitical and economic conditions.” The sites include Porsche’s Zuffenhausen and Weissach plants, where it aims to reduce around 15% of the workforce.

Porsche is set to cut 1,900 jobs by 2029 as it grapples with stagnant demand for its electric models. The reductions, which will target Porsche’s factory in Zuffenhausen which manufactures its all-electric vehicle,