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00:02Volkswagen is looking to cut tens of thousands of additional jobs in Mayshutter factories
00:07as CEO Oliver Bloom pushes to make Europe's biggest automaker more competitive, according to Bloomberg.
00:13The report said Bloom presented plans to double staff reductions
00:17to as many as 100,000 during a management board meeting.
00:21Volkswagen currently employs around 657,000 people.
00:25The plan also includes cutting overhead costs by 11 billion euros or 12.5 billion dollars
00:31by the end of the decade and closing four German factories in the medium term.
00:37Labor leaders pushed back, saying they would oppose the plans.
00:41Volkswagen said it must undergo profound change, but declined to comment on the report's specifics.
00:47For all things money, visit Benzinga.com.
