German car giant Volkswagen said Thursday that management and unions had agreed to cut a further 50,000 jobs by the end of the decade, bringing total job losses to 100,000.

“It is essential to systematically align workforce levels with economic realities,” the 10-brand group said in a statement, adding the firm had approved a plan which involved “the reduction of around 50,000 jobs” on top of the 50,000 already agreed.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)