Volkswagen profit plunges as carmaker weighs mass job cuts

Volkswagen said Friday that its net profit plunged in the second quarter as the crisis-hit carmaker, weighing up to 100,000 job cuts worldwide, grapples with increasing competition in and from China. Net profit for the three months to the end of June came in at 1.54 billion euros ($1.75 billion), the 10-brand group said, a fall of 32.9 percent on the