Desperate times call for desperate measures, and that’s exactly what could be coming at the Volkswagen Group. Facing steep cost disadvantages against its rivals, VW chief executive Oliver Blume has suggested that as many as 140,000 jobs could be on the chopping block over the coming year.

 

An internal memo Blume sent to staff earlier this month noted that, having already committed to cutting 50,000 jobs across the group, VW is now weighing another 50,000 for further cost-cutting. That comes despite the company earlier rejecting reports it was mulling up to 100,000 job losses.