Volkswagen plans to drastically cut its model lineup and further pare back capacity as Europe’s largest automaker considers a far-reaching overhaul that sources say could cost about 100,000 jobs.

German auto giant Volkswagen's management meets Thursday to discuss plans for what could be the biggest ever restructuring in the global auto industry, with unions set to protest…

Volkswagen announced plans on Thursday to drastically pare back its model lineup and further reduce production capacity