The Crisis at Volkswagen Intensifies 0 17

Volkswagen plans to lay off up to 100,000 employees worldwide and close four factories in the country, reported Manager Magazin. This is double the number previously anticipated in VW's announced restructuring plan.

Volkswagen's management is also discussing a change in the business structure. According to the magazine, the main VW brand and the components manufacturing division may be spun off into separate companies. A Volkswagen spokesperson confirmed to the dpa agency that a restructuring plan is being developed but declined to comment on specific measures, Deutsche Welle reports.

The final decision rests with Volkswagen's supervisory board, which is set to discuss the management's proposals on July 9.