Porsche AG lowered another profitability goal set at the time of its blockbuster listing after the luxury-car maker’s earnings slumped due to tumbling sales in China.The German brand is now aiming for a return on sales of between 15% and 17% in the medium term,

Porsche will be cutting nearly 10% of its workforce, or the equivalent to around 4,000 jobs, as sales slump and U.S. tariffs disrupt the global supply chain, according to multiple sources. An original report from The Wall Street Journal cites a couple of official statements from the Zuffenhausen automaker regarding its employment projections up through 2029,

Porsche will cut 3,900 jobs as it restructures to improve profitability in the face of declining sales in China and the threat of U.S. tariffs.