On May 8, reports emerged indicating that Porsche, in reaction to cost pressures stemming from reduced sales and strategic shifts in the electric vehicle sector, intends to shutter three non-vehicle manufacturing business segments. These include the Cellforce battery division, the electric bicycle business, and the Cetitec software subsidiary. Notably, this will mark Porsche's first round of layoffs, impacting more than 500 employees across Germany and Croatia. Earlier in April, Porsche reached an agreement to divest its stake in the joint venture that holds the Bugatti supercar brand. Additionally, company management hinted at the potential for further asset sales down the line. In March of this year, Porsche CEO Michael Leiters announced that, beyond the roughly 3,900 job cuts planned by the end of the decade, the company is considering additional layoffs. Porsche currently employs approximately 40,000 individuals. The company anticipates that capital expenditures will reach their zenith this year, followed by a gradual decline as R&D investments taper off.