00:00Volkswagen is slashing another 50,000 jobs and plans to end auto production at four German plants
00:06as it battles high costs, Chinese competition, and U.S. tariff pressures.
00:11The company also plans to cut its model lineup by about half and reduce excess production capacity in Europe.
00:18The new reductions come on top of roughly 500,000 job cuts already agreed to,
00:24potentially bringing the total to about 100,000 positions.
00:28Volkswagen has reported a 30% drop in after-tax earnings for the first half of the year,
00:34making the restructuring a critical test for the automaker.
