Volkswagen Faces Historic 100,000 Job Cuts Amid EV Rivalry

Volkswagen is considering up to 100,000 job cuts and four German factory closures in its 89-year history, as it struggles with falling market share in China, weak European demand, and rising competition from Chinese EV makers. The restructuring, to be discussed on July 9, would be unprecedented. Unions and shareholders are expected to oppose large-scale closures.