Volkswagen-Ford

According to TechCrunch, the layoffs account for about 5 per cent of its more than 2,000 global workforces, according to sources familiar with the company's actions

Volkswagen sold more vehicles than any other carmaker in the world last year

Wall Street was hoping for a blockbuster deal, such as the billions of dollars General Motors Co. landed for its self-driving unit from Honda and SoftBank Vision Fund last year