Porsche is closing three subsidiaries and laying off employees
10 May 21:16
Automaker Porsche AG has announced a major strategic reorganization, which includes plans to close three subsidiaries: Cellforce Group GmbH, Porsche eBike Performance GmbH, and Cetitec GmbH. This was reported by "Komersant Ukrainian", citing Delo.ua.
The decision was approved by the company’s executive and supervisory boards.
As part of the restructuring, the company is focusing on its core automotive business while reviewing investments in related technology areas. Porsche management notes that changing market conditions and strategic priorities have made certain projects economically unviable.
The closure of the divisions will affect more than 500 employees. The smallest division, Cellforce Group, which was engaged in the development of battery technologies, is being shut down due to a lack of long-term prospects.
At Porsche eBike Performance GmbH, the shutdown is attributed to changes in the electric bicycle market, while at Cetitec GmbH, it is due to a decline in demand for related software solutions.
The company emphasizes that the reorganization is part of an overall strategy to improve efficiency and focus resources on key business areas.
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