Volkswagen reportedly plans to lay off up to 100,000 employees worldwide in a massive downsizing that illustrates how Chinese competition is reshaping the global automotive industry.

Volkswagen CEO Oliver Blume is reportedly planning significant changes, including potentially cutting up to 100,000 jobs globally and closing four German plants. The company also…

Volkswagen plans to discontinue production at four of its German plants, according to news reports. Read more at straitstimes.com. Read more at straitstimes.com.

More than 45,000 jobs are at risk amid mounting competition from Chinese rivals