•1 min read•from TechCrunch
Porsche shutters e-bike, battery, software subsidiaries as part of company overhaul
More than 500 people will be affected by the closures. “We must refocus on our core business,” Porsche CEO and executive chair Michael Leiters said in a statement. "This is the indispensable foundation for a successful strategic realignment. This forces us to make painful cuts — including our subsidiaries."
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