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6,000 lose jobs as car maker downsizes worldwide on weak demand, other uncertainties

Downsizing. Jaguar has cut 4,500 jobs in addition to the 1,500 jobs it terminated in 2018. (MONEYCONTROL PHOTO)

LONDON – Six thousand workers have so far lost their jobs worldwide at Tata-owned Jaguar Land Rover (JLR) in less than a year, in a downsizing exercise the firm blames on weak demand and other uncertainties.

In a Thursday January 10 announcement, the motor manufacturer confirmed cutting 4,500 jobs in addition to the 1,500 jobs it terminated in 2018.

The development comes ahead of Brexit scheduled for March 29.

According to UK local media JLR’s next phase of ‘Charge and Accelerate’ transformation programme aims to deliver £2.5 billion in cost reductions and cash flow improvements over 18 months as well as long-term strategic operating efficiencies.

The next phase of the programme is expected to begin with a voluntary redundancy programme in the UK with a view to creating a leaner, more resilient organisation with a flatter management structure.

Speaking to local media, Ralf Speth, the JLR Chief Executive Officer, 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.”

Speth said: “The next chapter in the story of the Jaguar and Land Rover brands will be the most exciting – and challenging – in our history…investing in cleaner, smarter, more desirable cars and electrifying our facilities to manufacture a future range of British-built electric vehicles…”

 

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