English => News => Topic started by: Redaktion on May 16, 2026, 16:40:37
Title: Major cuts at Porsche: 500 jobs axed, e-bike division shut down
Post by: Redaktion on May 16, 2026, 16:40:37
Sports car manufacturer Porsche is pulling the emergency brake and parting ways with three subsidiaries, leaving more than 500 employees without a job. The hardest hit is the e-bike development division, which is being completely shut down. Under CEO Michael Leiters, Porsche is refocusing on its core business to combat falling profits and weak demand.