Volkswagen to cut 1,00,000 jobs

German auto major Volkswagen has said it'll cut around 1,00,000 jobs worldwide by the end of the decade, marking what could become the biggest restructuring exercise in the global automobile industry. Its management and trade unions agreed to cut another 50,000 positions, on top of 50,000 previously approved reductions. "It's essential to...align workforce levels with economic realities," it said.