Porsche cuts 9,000 jobs, slims lineup, bets on ultra-luxury as EV shift stalls

Porsche announced a major restructuring cutting 9,000 jobs and reducing model variants, while doubling down on high-margin customization and a new supersportwagen priced at €13 million. The move follows disappointing sales and reflects a strategic pivot away from volume toward ultra-luxury positioning amid weaker EV demand. The scale of job cuts signals a significant cost-reduction effort, but the success of the ultra-luxury bet remains uncertain.