Volkswagen to cut another 50,000 jobs as auto industry faces deep trouble

Volkswagen has announced plans to cut another 50,000 jobs, bringing its total planned workforce reductions to 100,000 positions. Jakub Faryś, president of the Polish Automotive Industry Association, warned that the entire automotive sector is facing a series of serious challenges. The cuts reflect mounting pressures from rising competition, the shift to electric vehicles and weakening demand.