Volkswagen's sweeping restructuring deal reveals the force of the China shock hitting Germany's economy as the world's largest car market...

Volkswagen, the world's second-largest automaker, is trying to get more nimble. It's planning huge job cuts as Chinese automakers step up competition.

Volkswagen announced Thursday that it will cut another 50,000 jobs worldwide, marking the biggest restructuring in the company's 89-year history, as the German carmaker faces…