Porsche AG to cut over 500 jobs as it sharpens focus on core business

Porsche AG said ‌on Friday that it planned to cut more than ‌500 jobs as it discontinues three subsidiaries to focus on core ⁠business. The company the units Cellforce Group GmbH, Porsche eBike Performance GmbH ⁠and Cetitec GmbH would be discontinued. "Porsche ​must refocus on its core ‌business. This is the indispensable ‌foundation ‌for a successful strategic realignment," ‌said CEO Michael ​Leiters in a statement. "This ⁠forces us to make painful cuts — including our subsidiaries," he ⁠said.

By The Korea Herald