JLR to cut 4,000 jobs in two years
JLR has confirmed it will cut 4,000 jobs over the next two years in a bid to save £1.7bn.
The cuts will predominantly impact employees at its plants in Solihull, Warwickshire and Merseyside, and those based at its Coventry headquarters.
It hopes to realise the cuts through voluntary redundancies, with the window open until 4 October.
The company said in a statement: “The automotive industry faces significant challenges, with technological change amidst intense competition and ongoing geo-political uncertainty. Through our Growth Reimagined strategy, JLR is moving decisively to strengthen our competitiveness and position the business for long-term success.
“Over the next 12 months, we will launch five new products continue to leverage the strength of our brands and renew our focus on North America amongst other markets to help us deliver double digit revenue growth.
“At the same time, we are reducing organisational complexity and targeting £1.7bn of savings to lower our break-even point towards 300,000 vehicles and become fitter to compete in a rapidly evolving market.
“As part of this transformation, we will reduce our global workforce by around 4,000 roles over the next two years. We recognise this will be difficult news for colleagues affected, and are committed to supporting everyone with care, fairness and respect. Together, these actions will help build a stronger, more competitive JLR for all our stakeholders.”
JLR, which is wholly owned by Indian company Tata Motors, has faced increasing competition from Chinese manufacturers, and last year had to halt production for more than a month following a cyber attack.
