Dec 17, 2018

Jaguar Land Rover set to cut thousands of jobs

Jaguar Land Rover will announce plans to cut thousands of jobs early in the new year, as part of a £2.5bn turnround plan to revive the fortunes of Britain's largest carmaker. JLR, which employs 40,000 people in the UK, has been stung by sliding demand for diesel, poor sales in China and costs of preparing for Britain's departure from the EU. In October, after posting a loss of £90m for the three months to September, it outlined plans to find savings of £2.5bn, including £1bn of cost reductions within 18 months, without specifying how many jobs would be lost. The company's Jaguar brand sells several sport utility vehicles that compete directly with its Land Rover models, while two of its mid-range Range Rover vehicles - the Velar and the Range Rover Sport - have significant overlap. Of JLR's 13 models, only three - the Range Rover Velar, the new Jaguar E-Pace and the electric Jaguar I-Pace - saw sales rise. The Land Rover Discovery Sport, its biggest selling model, saw demand fall by more than 11 per cent.

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