Porsche has announced plans to cut more than 500 jobs as part of a sweeping restructuring aimed at refocusing the German luxury carmaker on its core automotive operations.
The company said it will shut several subsidiaries and scale back non-core ventures as part of what it described as “far-reaching measures” to streamline the business.
The changes will see the closure or wind-down of Cellforce Group GmbH, Porsche eBike Performance GmbH, and Cetitec GmbH, affecting staff across Germany and Croatia.
Cellforce Group, based in Kirchentellinsfurt, will be wound down with around 50 jobs affected after Porsche concluded it no longer saw “a sufficiently viable long-term perspective” for the business.
The group said it will now begin discussions with employee representatives over the closure process.
A larger impact will be felt at Porsche eBike Performance GmbH, based in Ottobrunn, where around 350 employees are set to be affected following a shift in global demand and changing market conditions in the e-mobility sector.
Operations in Ottobrunn and Zagreb are expected to be scaled back or discontinued as part of the restructuring.
Meanwhile, Cetitec GmbH, which develops software for data communication systems used across Porsche and the wider Volkswagen Group, will also be shut down, affecting around 90 employees in Germany and Croatia.
Dr Michael Leiters, chairman of Porsche’s executive board, said the company was being forced to make “painful cuts” as it concentrates on strengthening its core business.
“We must refocus on our core business. This is the indispensable foundation for a successful strategic realignment,” he said.
The restructuring comes alongside a broader shift in Porsche’s investment strategy, including moves to exit stakes in several high-profile joint ventures.
The company has already agreed to sell its interests in Bugatti Rimac and the wider Rimac Group, subject to regulatory approval, in a deal expected to complete by the end of the year.
Porsche had previously held a 45 per cent stake in Bugatti Rimac, alongside Rimac Group’s majority holding.
Mate Rimac, chief executive of Bugatti Rimac, thanked Porsche for its role as a founding partner, saying the structure created through the joint venture had helped lay the groundwork for the brand’s future.
Dr Leiters said Porsche’s involvement had successfully helped establish Bugatti’s next phase and contributed to the development of Rimac as a major automotive technology supplier.
He added that the latest divestments reflected a clear strategic shift: “We will focus Porsche on the core business.”
The overhaul signals a broader retreat from experimental ventures as Porsche seeks to stabilise margins and prioritise its traditional luxury sports car lineup amid a more challenging global automotive market.
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