Volkswagen weighs deeper cuts as board reviews overhaul

Volkswagen is contemplating more significant reductions as its board examines a major overhaul plan in response to the growing competition from Chinese automakers. The proposed cost-cutting measures could affect thousands of jobs and streamline operations to stay competitive in the global market. This move underscores the company's urgency to address financial pressures and regain market share, especially in key regions like China, where competition is fierce. The potential changes signal a broader industry shift as traditional auto manufacturers grapple with the rapid rise of Asian competitors.