Chief executive Oliver Blume outlined the plans in a memo to staff as he desperately bids to cut costs at Europe's largest car maker.

Volkswagen's CEO indicated potential for 50,000 more job cuts. This move aims to match competitor cost structures. The company already agreed to 50,000 reductions across its…

Volkswagen may need to eliminate about 50,000 additional jobs to match the competitiveness of its rivals, its CEO told employees in an internal memo,...