Click to launch Volkswagen cuts 5,000 jobs amid `lousy' profit outlook Firm targets $3.6 billion in savings Stock has lost 13% so far this year WOLFSBURG, Germany—German car maker Volkswagen AG announced plans yesterday to slash 5,000 jobs as part of a new cost-cutting drive as it warned of a "lousy" first quarter on top of last year's slump in profits. VW also warned that a goal of beating last year's operating profit before special items was ambitious, despite hefty cutbacks and the key launch of its Golf V hatchback. VW said the new efficiency program should reap an extra...