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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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Europe's automotive industry is anticipating decline. Reforms are to bring companies back on track. Now British car manufacturer Jaguar Land Rover also announces severe cuts.
One in eight jobs at Jaguar Land Rover in the UK will be cancelled. According to weak figures, Indian parent company Tata is under pressure. The Labour government does not want to give subsidies.
·Frankfurt, Germany
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Coverage Details
Total News Sources152
Leaning Left14Leaning Right24Center40Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 18%
C 51%
R 31%
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