Wednesday, 19 June, 2019


Jaguar Land Rover 'to cut 5000 jobs' as losses continue

Jaguar Land Rover 'to cut 5000 jobs' as losses continue Jaguar Land Rover 'to cut 5000 jobs' as losses continue
Bennie Garza | 10 January, 2019, 22:42

Brexit played an indirect role in the decision, Jaguar Land Rover Chief Executive Officer Ralf Speth said on a conference call, citing the United Kingdom automotive market's 6.8 per cent drop in 2018, the worst since the financial crisis.

The company has sounded some of the most urgent warnings among United Kingdom manufacturers about the damage that Brexit uncertainty was doing to investment in the UK.

In its biggest market, China, the vehicle industry recorded its first slump in sales in more than two decades.

Jaguar employs 44,000 workers at sites in Halewood on Merseyside and Solihull, Castle Bromwich and Wolverhampton in the West Midlands.

Marketing, management and administration roles are expected to be those most affected, the BBC report said.

Jaguar also announced further investment in electrification, with electric drive units to be built at its factory in Wolverhampton and a new battery assembly centre at Hams Hall in Birmingham.

Steven Armstrong, Ford's European group vice president, said the company was taking "decisive action" to transform its European business.

In October past year, the auto giant unveiled a £2.5 billion turnaround plan that included cost cutting after Brexit uncertainty and slowing demand in China left it nursing a hefty second-quarter loss.

The company says the job losses will be global, but it's understood most of the redundancies will occur in the United Kingdom, where the automaker employs around 43,000 people.

The firm reported a £90m pre-tax loss in the three months to 30 September, compared with a £385m profit in the same period in 2017.

In December 2018, the company refused to comment on reports that it was preparing to cut thousands of jobs in the New Year.

"The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence", said JLR Chief Commercial Officer Felix Brautigam. JLR said it regularly reviewed "its production schedules to ensure market demand is balanced globally".

Britain's business minister Greg Clark said on Thursday it is clear why a no-deal Brexit would add to the problems with further costs and disruption.

There has been a slump in demand for Jaguar's diesel-powered vehicles and the company said it will begin producing electric cars as a result.

Auto giant Jaguar Land Rover will announce up to 5,000 job cuts later on Thursday, according to reports.

Most recently it announced it would move all production of the Land Rover Discovery to a new plant in Slovakia with plans to hire up to 3,000 workers.

"Britain's auto workers have been caught in the crosshairs of the Government's botched handling of Brexit, mounting economic uncertainty and ministers' demonisation of diesel, which along with the threat of a no-deal Brexit, is damaging consumer confidence".

Under the plan, employment costs and employment levels will be reduced, and the job losses will be in thousands, the agency reported, citing people familiar with the matter.

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