Volkswagen approves plan to cut 100,000 jobs

Volkswagen's board has approved a plan to cut 100,000 jobs by the end of the decade, described as the largest layoffs ever seen in the automotive industry. The group, which includes Audi, Porsche and Skoda, had previously announced in March a target of 50,000 job cuts. The company also plans to restructure operations and invest in research and development.