Jaguar Land Rover to cut 4,000 jobs in the UK and worldwide
British luxury car manufacturer Jaguar Land Rover plans to cut around 4,000 jobs worldwide over the next two years. The decision is part of a programme to reduce costs and increase the company’s competitiveness, TimesLIVE reports.
Savings plan and workforce
Jaguar Land Rover expects to save £1.7 billion and bring its break-even point closer to 300,000 vehicles. The company has major production sites in central England.
JLR employs approximately 30,000 people in the United Kingdom, while its total global workforce stands at around 40,000. The company is owned by India’s Tata Motors.
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Investment and meeting with the government
The manufacturer also announced the launch of five new products over the next 12 months. The planned changes are intended to support investments of between £15 billion and £18 billion over the next five years.
The funds are planned to be directed towards electrification, digital technologies, advanced manufacturing and improving customer experience. Business Secretary Jonathan Reynolds said he would meet JLR chief executive PB Balaji this week to discuss the planned job cuts.
The company confirmed the layoff plans during a speech by Finance Minister John Healey in Coventry dedicated to stimulating economic growth.
