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Jaguar Land Rover to cut 4,000 jobs
The cuts will mainly affect salaried and management staff as JLR targets £1.7 billion in savings and a lower break-even point.
- On Monday, Jaguar Land Rover launched a voluntary redundancy programme, while Business Secretary Jonathan Reynolds ruled out government financial support for the restructuring.
- JLR targets approximately £1.7 billion in savings over two years to counter rising operational costs and intense competition from Chinese manufacturers BYD and Chery gaining market share with lower-priced electric vehicles.
- The company expects to cut approximately 4,000 positions, equivalent to roughly 10% of its global workforce, while seeking to reduce its break-even point to 300,000 vehicles following recent financial losses.
- Unite general secretary Sharon Graham criticized "years of under-investment" and "unsustainable ZEV mandates" as crippling the industry, while Reynolds stated he does not "intervene and run businesses."
- Alongside the restructuring, JLR is expanding its presence in the US and pushing into the premium electric vehicle market, with its first electric Range Rover launched earlier this month at £154,070.
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Jaguar Land Rover job cuts hit 4,000 roles
The number that matters in Monday’s Jaguar Land Rover announcement is not 4,000. It is 300,000. That is the annual sales volume at which the company now intends to break even. Its brands have historically sold well over 400,000 vehicles a year. Just Auto made that comparison in its report on the statement. JLR is […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources241
Leaning Left28Leaning Right32Center58Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 24%
C 49%
R 27%
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