Massive job cuts at JLR
Jaguar Land Rover has just announced that it is to cut some 4,500 jobs. These are set to be from a number of its plants, but the UK is likely to be hardest hit – the company employs around 40,000 there. In total JLR has nine sites in the UK and a further seven worldwide. JLR is the country’s largest carmaker, and wishes to simplify its management structure. This means that a significant proportion of losses will probably be in office jobs. A voluntary redundancy plan will be put in operation to help with the cuts.
JLR's 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.”
Analysts believe that the plunge in the Chinese car market – it slumped 6.2% last year, the first drop for around two decades – along with over-reliance on diesel and uncertainty over Brexit, have contributed to today’s announcement.
(Image: Jaguar Land Rover)