Volkswagen is a case study in what’s wrong with many of our biggest industrial companies

There’s a lot to learn from what’s happening with one of the world’s most consequential employers. If you want to understand why so many of our industrial giants are in trouble, you could do worse than study what is happening right now in Wolfsburg, Germany. Per The Wall Street Journal, Volkswagen’s leadership is reportedly weighing the most drastic restructuring in the company’s 89-year history: eliminating up to 100,000 jobs (roughly one in six global employees), winding down production at four German plants, and slashing investment by 15%. The unions have promised to fight it “with all our might.” Shares of the automaker’s stock are trading at low levels not seen in 16 years. China, once VW’s profit engine, saw the company’s sales tumble 20% in a single quarter as BYD and its compatriots eat VW’s lunch.