Volkswagen reported a significant decline in net profit for the second quarter, with earnings reaching 1.54 billion euros ($1.75 billion) for the three months ending in June. In response to the company's ongoing financial challenges, leadership is currently evaluating the possibility of implementing mass job cuts that could affect up to 100,000 employees worldwide.
The carmaker is facing mounting pressure from increasing competition within and from China, a market that has historically been a key driver for the company. Volkswagen’s struggle in the region is underscored by recent performance data, which shows that vehicle deliveries in China fell last year to their lowest level since 2011.
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