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UK NewsJaguar Land Rover to 'cut thousands of jobs'

09:30  10 january  2019
09:30  10 january  2019 Source:   news.sky.com

Jaguar Land Rover to cut 4,500 jobs under cost-saving plans

Jaguar Land Rover to cut 4,500 jobs under cost-saving plans Ford also signalled cuts among its 50,000-strong European workforce under plans to make its business more sustainable. The company started consultations with unions, with details of job cuts not expected until later in the year, although staff based at Warley in Essex will move to Dunton. Steven Armstrong, Ford’s European group vice president, said the company was taking “decisive action” to transform its European business.

Jaguar Land Rover employs 40,000 people in the UK © PA. In October, after posting a loss of £90m for the three months to September, it outlined plans to find savings of £2.5bn, including £1bn of cost reductions within 18 months, without specifying how many jobs would be lost.

Jaguar Land Rover ( JLR ) will today announce it is cutting up to 5,000 jobs from its 40,000 strong UK workforce. Management, marketing and administrative roles are expected to be hardest hit, but some production staff may also be affected. The layoffs are part of a £2.5bn cost- cutting plan amid what

Jaguar Land Rover to 'cut thousands of jobs' © Reuters JLR's UK plants, including this one in Solihull, employ 44,000 people

Jaguar Land Rover (JLR) is expected to announce plans to cut thousands of jobs as part of £2.5bn plan to reverse losses.

The British company, which employs 44,000 in the UK and cut 1,000 temporary contract workers at its plant in Solihull last year, has been hit by poor sales in China and a drop in demand for diesel cars.

JLR posted a £90m loss in October and announced plans to save £2.5bn, including £1bn of costs cuts.

Jaguar Land Rover to 'cut thousands of jobs' © Getty

At the time, it did not say how many jobs would be lost, although the Financial Times reported in December up to 5,000 jobs could go.

Twin jobs blow to UK motor industry from Jaguar and Ford

Twin jobs blow to UK motor industry from Jaguar and Ford Jaguar Land Rover and Ford are both announcing business updates.

Jaguar Land Rover is planning to announce thousands of job cuts in the new year as part of a £2.5bn savings plan to ward off the threat from The carmaker said: “ Jaguar Land Rover notes media speculation about the potential impact of its ongoing charge and accelerate transformation programmes.

Carmaker has £2.5bn plan to reduce costs as sales fall in China and Europe.

JLR, owned by India's Tata Motors, operates factories in Halewood, Solihull, Castle Bromwich and Wolverhampton.

In its biggest market, China, the car industry recorded its first slump in sales in more than two decades. Sales fell 6% to 22.7m units last year, the China Passenger Car Association said.

Trade tensions between the United States and China have made Chinese consumers more cautious.

JLR's sales have also been hurt by consumer confusion and a shift away from diesel-powered cars in Europe following the VW emission cheating scandal. More than 80% of JLR's vehicles are sold with diesel engines in Europe.

Gallery: Companies facing a make or break in 2019 (Lovemoney)

The company has also been grappling with the cost of Britain's decision to leave the European Union on 29 March.

It has warned a poor exit deal could cost it £1.2bn a year.

The company has opened a £1bn plant to Slovakia where it currently employs 1,500 people.

Brexit has made the future of the UK's car manufacturing industry uncertain, with Toyota and Vauxhall among those to warn of negative impacts in the event of a hard Brexit.

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