- The German car manufacturer Porsche plans to close three divisions.
- The closing of the divisions should lead to concentration on the main company activities.
- The closure will affect approximately 500 employees across Europe.
German sports car manufacturer Porsche plans to close three divisions, with around 500 employees losing their jobs. This step is part of the company’s efforts to “focus mainly on core activities”. TASR informs about it based on the report of the DPA agency.
The company said on Friday that it plans to close the Cellforce Group division that deals production of batteries for electric cars. Another is the Porsche E-Bike Performance division focusing on the production of premium electric bicycles and the third software division Cetitec. The automaker made the announcement about two weeks after announcing plans to sell its stake in luxury sports car maker Bugatti.
Porsche’s decision will mean the elimination of around 500 jobs. According to the head of the automaker, Michael Leiters, “the company is forced to make painful cuts, including those in divisions.” The management of the company did not disclose when the divisions will be closed.
The Porsche E-Bike Performance division will be closed by the company due to changed market conditions. 350 people should lose their jobs in Germany and Croatia. In the software division of Cetitec, 60 employees will end up in the domestic German market and approximately 30 in Croatia.
