Porsche Automobil Holding SE, Volkswagen’s largest shareholder, urged immediate action to restore the carmaker’s competitiveness after reporting 3 billion euros ($3.46 billion) of first-half impairments tied to its Volkswagen investment and a further 200 million euros on its Porsche stake. Porsche SE, through which the Porsche and Piëch families control Volkswagen, said the group is at a "historic crossroads" and supported management proposals as Volkswagen examines restructuring measures that could include up to 100,000 job cuts amid weaker profits, tariff-related costs and rising competition from Chinese brands. Porsche SE reported adjusted half-year earnings after tax of 949 million euros ($1.1 billion), down 14.5% from a year earlier.