Porsche Launches Cost Cutting Plan Slashing 500 Jobs and Closing Three Subsidiaries Amid EV Slump

Closures target battery and e-bike units

Porsche is cutting more than 500 jobs and closing three subsidiaries as falling EV demand and weaker China sales squeeze profits. The restructuring shifts focus back to its core car business, shutting Cellforce Group’s battery operations, ending Porsche eBike Performance, and closing Cetitec’s software and digital communications unit. The move signals a broader luxury auto recalibration.