Volkswagen To Cut 1 Lakh Jobs To "Align Workforce With Economic Realities"

German car giant Volkswagen said Thursday that management and unions had agreed to cut a further 50,000 jobs by the end of the decade, bringing total job losses to 100,000.

"It is essential to systematically align workforce levels with economic realities," the 10-brand group said in a statement, adding the firm had approved a plan which involved "the reduction of around 50,000 jobs" on top of the 50,000 already agreed.

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