Volkswagen Plans 100,000 Job Cut as China Cars Rise

Volkswagen CEO Oliver Blume is aiming to cut up to 100,000 jobs and end production at four German plants in what would be the biggest overhaul in the company’s 89-year history, Manager Magazin reported on Friday. The plan would also see the carmaker cut planned investment by about 15% to just ?over €130 billion ($148 billion) over the next five years, according to the report. Blume and ?Chief Financial Officer Arno Antlitz aim to fundamentally restructure the company, including spinning off the core VW brand and its parts operations into separate entities, ?the magazine said, citing sources. Blume is under…