Volkswagen's Existential Crisis: A German Industry on Brink of Collapse The proposal by Volkswagen to slash up to 100,000 jobs and close factories in Germany has sent shockwaves through Europe's largest carmaker.
The company's supervisory board is formally considering this radical transformation plan, which would be nothing short of devastating for Germany's car industry.
Growing Chinese competition and the struggle to shift to electric cars from combustion engines have long plagued Volkswagen.