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Written by Paul Horrell
Jaguar Land Rover has announced it needs to find 4,500 redundancies as part of its plan to save 2.5 billion over 18 months. The aim is to reverse its recent slip into loss from a profit the year before. That"s in addition to the 1,500 job cuts announced last year. Most of the redundancies are going to be in the UK, so the company will be losing more than one in 10 of its people here. Jaguar Land Rover says it"s sitting amidst a perfect storm of difficulties, caused by Brexit, trade tensions with the US, a rapidly falling Chinese market, and dropping diesel sales coupled with the costs of certifying to the WLTP standards, and investing in electrification.
Date written: 10 Jan 2019
More of this article on the Top gear website
ID: 14512
Jaguar Land Rover has announced it needs to find 4,500 redundancies as part of its plan to save 2.5 billion over 18 months. The aim is to reverse its recent slip into loss from a profit the year before. That"s in addition to the 1,500 job cuts announced last year. Most of the redundancies are going to be in the UK, so the company will be losing more than one in 10 of its people here. Jaguar Land Rover says it"s sitting amidst a perfect storm of difficulties, caused by Brexit, trade tensions with the US, a rapidly falling Chinese market, and dropping diesel sales coupled with the costs of certifying to the WLTP standards, and investing in electrification.
Date written: 10 Jan 2019
More of this article on the Top gear website
ID: 14512