Major cuts at Porsche: 500 jobs axed, e-bike division shut down

[Redaktion]

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.

https://www.notebookcheck.net/Major-cuts-at-Porsche-500-jobs-axed-e-bike-division-shut-down.1298672.0.html

[Jet]

Yep....this all follows the pattern of the rest of the German car manufacturing industries.
Read on Yahoo News that the cheaper Chinese competition is what is causing western companies to break up.

[Lol]

Make overpriced niche products which few can afford, then get surprised you are going out of business?