Jaguar Land Rover to cut 4.500 jobs
At the same time American car maker, Ford, has announced a vast restructuring of its European branch that probably will cost thousands of jobs and the closure of several factories, British car maker, Jaguar-Land Rover (JLR), annouces to cut 4.500 jobs, mostly in the UK or about 10% of its workforce worldwide.
2,5 billion pound savings
Jaguar-Land Rover makes no secret of how it wants to cut costs with 2,5 billion pounds (2,8 billion euro) and the reasons why. The latter are disappointing half-year results, due to a slowdown on the Chinese market, falling diesel sales and incertainty about the Brexit. Jobs will be cut mostly in administrative services, marketing and management, while production will be spared.
Last year, already 1.500 employees had to leave the company and half a billion pounds of costs were reduced. On the other hand, the Indian owner of JLR, Tata Motors, invested in the factories of Wolverhampton and Birmingham for the production of drivetrains and batteries for electrifying its models.