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“The German carmaker Volkswagen said last week it plans to cut a further 50,000 jobs as part of its turnaround plan as it faces US tariffs and Chinese competition.”

“Only last week, Volkswagen announced plans to cut some 50,000 jobs in what will be the biggest restructuring in the manufacturer's history.”

“Battling to implement sweeping job cuts and threatening to close up to four plants in Germany, Blume also faces pressure from investors to prove his turnaround strategy goes beyond downsizing to make strides in product development and software.”

“Analysis by the European Commission in June projected potential job losses of more than 1m on the back of high energy costs and global competition, which will include the 100,000 job cuts at Volkswagen confirmed by the German carmaker last week.”

“Volkswagen said it would slash 50,000 additional jobs — bringing the total to 100,000 by the end of the decade, the most in automotive history — as the German firm faces cutthroat competition from Chinese carmakers.”