Volkswagen to cut 50,000 jobs amid tariff, competition pressures

Volkswagen announced plans to cut 50,000 jobs as the company struggles with increased tariffs on shipments to the U.S. market and growing competition from Chinese automakers in Europe. The German automaker said the move will result in fewer models available for Volkswagen buyers. According to the company’s most recent financial report, Volkswagen has been cutting staff for years. It is unclear when the new job cuts will begin. DOWNLOAD the free Gulf Coast News app for your latest news and alerts on breaking news, weather, sports, entertainment, and more on your phone or tablet. And check out the Very Local Gulf Coast app to stream news, entertainment and original programming on your TV