Volkswagen announces massive job cuts affecting 100,000 employees

Volkswagen, based in Germany, has announced plans to cut 100,000 jobs by the end of the decade. This decision follows a previous plan to reduce 50,000 roles and is part of a broader restructuring effort to address economic challenges, including competition from Chinese automakers and fluctuating demand for electric vehicles. The job cuts represent 15% of the company's global workforce and mark the largest restructuring in the automotive industry. Unions have expressed dissatisfaction with the management's communication regarding these cuts.