Report says Jaguar Land Rover to cut 5,000 jobsBusiness | 10 Jan 2019 5:55 pm
Britain’s media is reporting that Jaguar Land Rover will announce up to 5,000 job cuts as the carmaker addresses slowing demand in China and growing uncertainty about the U.K.’s departure from the European Union.
The BBC says the luxury carmaker will cut around 5,000 jobs in marketing, management and administrative roles. The company employs about 44,000 people in the U.K.
The firm, owned by India’s Tata, last year outlined a 2.5 billion (US$3.2 billion) turnaround plan after Brexit, Chinese trade tensions with the U.S. and new European emissions standards left Jaguar with a pre-tax loss of 90 million pounds in the three months to September 30, which compared with a 385 million pound profit in the same period in 2017.
Thursday’s announcement is set to include 2018 sales.-AP