A senior executive at Volkswagen has denied any additional job cuts beyond the previously announced 20,000 jobs over the next three years but admits that the situation is “serious.”  Like other auto manufacturers, VW too has faced competetive pressures in recent years and additonal cuts of another 10,000 jobs had been rumored earlier last week.  This follows a year after a damaging scandal where a number of senior executives were fired for taking illegal payments for supply contracts in India.