Volkswagen AG warned that as many as 20,000 jobs could be cut in the next three years under a restructuring plan announced Friday, as Europe's biggest automaker tries to trim costs at home and improve its tiny U.S. market share. Volkswagen, which employs more than 340,000 workers worldwide, also said it would look at "adjusting" capacity at its production plants.
See "Volkswagen Says Up to 20,000 Jobs Could Be Cut", Associated Press, The New York Times, February 9, 2006