Jaguar Land Rover to cut 4000 jobs over next two years
The internationally renowned brand has confirmed the cost-cutting move will be applied to its global workforce over the next two years.
British luxury carmaker Jaguar Land Rover says it will cut around 4000 jobs globally over the next two years as part of a broader plan to reduce costs and improve competitiveness.
The manufacturer, which has major sites in central England, said it was targeting STG1.7 billion ($3.2 billion) of savings, lowering its break-even point towards 300,000 vehicles. JLR employs about 30,000 in the UK out of a global workforce of about 40,000.
Owned by India’s Tata Motors, the company confirmed the cuts as finance minister John Healey delivered a speech in nearby Coventry focused on boosting UK economic growth.
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UK Business Minister Jonathan Reynolds said on Sunday he would meet Chief Executive PB Balaji this week to discuss the planned job cuts following media reports of the plans.
The Sun reported that the company revealed during the weekend that it would be launching a voluntary redundancy programme until October 4 to offer team members the opportunity to leave the business.
It is understood Jaguar Land Rover staff were warned of impending cuts on Friday.
Jaguar and Land Rover, traditionally two of the UK’s most recognised vehicle brands, officially merged in 2013, five years after the companies were purchased by Tata Motors from Ford Motor Company.
