EconomyVW Approves Plan for 50K More Layoffs as US Retail Diesel Hits Record

Volkswagen’s supervisory board approved a sweeping restructuring plan involving 50,000 more job cuts, fewer models and a smaller industrial footprint. The decision gives CEO Oliver Blume his clearest mandate yet to overhaul Europe’s biggest automaker, while US retail diesel reached a record nationwide average of $5.85 a gallon, threatening to add to energy-driven inflation.