Porsche AG will trim its workforce by 1,900 employees by the end of the decade in response to weak electric vehicle demand and “challenging geopolitical and economic conditions.”

BERLIN (Reuters) - German carmaker Porsche AG wants to cut around 1,900 positions by 2029, the DPA news agency reported on Thursday. The main plant in Stuttgart-Zuffenhausen and the site in Weissach will be affected, added the agency, citing the company.

The automaker is planning to cut 1,900 jobs over the next few years at various locations throughout Germany, according to Reuters. Citing a company spokesperson, the report states Porsche's previous reduction plan simply wasn't sufficient enough.

Porsche plans to cut 1,900 jobs in Germany by 2029 as it struggles with slumping EV sales. The luxury sports car maker has already warned of lower profits this year. With plans to reduce its workforce,