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

Car giant Jaguar Land Rover is to cut 4,500 jobs under plans to make £2.5bn of cost savings, the company has announced.

Most of the cuts are expected to be in the UK, with a voluntary programme being launched.

The savings and “cashflow improvements” will be made over the next 18 months.

The new job losses are in addition to the 1,500 workers who left the company last year.

Chief Executive, Ralf Speth, said: “We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry.”

The company also announced further investment in electrification, with electric drive units to be built at its factory in Wolverhampton and a new battery assembly centre in Birmingham.

Jaguar Land Rover employs 44,000 workers in the UK at sites.

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(PA Graphics)

In October last year, the car giant unveiled a £2.5bn turnaround plan that included cost-cutting after Brexit uncertainty and slowing demand in China left it nursing a hefty second-quarter loss.

The firm, owned by Indian conglomerate Tata, booked a £90m pre-tax loss in the three months to September 30, which compared with a £385m profit in the same period in 2017.

In China, demand was adversely impacted by consumer uncertainty following import duty changes and escalating trade tensions with the US.

In the UK, “continuing uncertainty related to Brexit” was blamed.

Staff gather outside the Jaguar Land Rover site(Peter Byrne/PA)

- Press Association


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