German car giant Volkswagen said on Sept. 4 that management and unions had agreed to cut a total of 100,000 jobs by the end of the decade, the biggest-ever restructuring in the global auto industry.

Volkswagen says it will cut 50,000 more jobs, taking total losses to 100,000.

Volkswagen announces plans to cut 100,000 jobs by 2030, marking a historic restructuring amid economic challenges.