Facing growing competition from China and rapidly advancing technology, the German auto giant said Thursday its board had approved a “comprehensive” overhaul. The total cuts will be the largest restructuring ever carried out in the global automotive industry, amounting to about 15% of the carmaker's staff worldwide. Key points and original sources are listed below.

• Facing growing competition from China and rapidly advancing technology, the German auto giant said Thursday its board had approved a “comprehensive” overhaul.S1

• The total cuts will be the largest restructuring ever carried out in the global automotive industry, amounting to about 15% of the carmaker's staff worldwide.S2