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German sports carmaker Porsche to cut 1,900 jobs
German sports carmaker Porsche to cut 1,900 jobs
Economy
by  AFP

Sports car manufacturer Porsche said Thursday it will axe 1,900 jobs after sales slumped in China and amid a tricky shift to electric vehicles, the latest blow for Germany's stalling auto sector. Hit by high manufacturing costs at home, weak demand, fierce competition and a sluggish shift to EVs, Germany's flagship auto sector is battling a growing crisis.