Volkswagen to cut further 50,000 jobs as it ends row with union over revival plan

Under-pressure carmaker will shed 15% of workforce and halve its product line in sector’s biggest ever restructureThe car company Volkswagen has approved controversial plans to shed 100,000 jobs in a battle for survival as it faces fierce competition from Chinese rivals.After the latest round of talks this week, the company announced a further 50,000 job cuts and agreed a staggered end to current production at four German plants: Emden, Zwickau, Hanover and the Audi site in Neckarsulm between 2031 to 2034. There are no specific plans beyond that. Continue reading...