When companies diversify too far from their core business, they risk losing their fundamental identity and purpose, as demonstrated by Porsche's decision to eliminate its e-bike, battery, and software divisions to refocus on its primary mission of manufacturing luxury vehicles.
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Porsche Fired 500 People to Remember They Make CarsAdded:
Porsche just killed their e-bike battery and software divisions. Over 500 people affected. CEO said they need to refocus on core business. Refocus? They're Porsche. The core business is making dentists feel alive. Apparently, e-bikes were distracting them from that sacred mission. 500 people lost their jobs so Porsche could remember what Porsche is.
Identity crisis speed run in a car that costs more than your house.
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