VW seeks jobs for 500 managers as German carmakers shed white-collar staff en masse

Germany's automotive sector is shedding white-collar and managerial staff at a rapid pace, according to the Financial Times. Volkswagen approached a recruitment agency asking for help placing 500 managers made redundant, but was told the market simply does not have 500 managerial vacancies to fill. The wave of layoffs reflects deep structural upheaval across the German car industry.