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Jaguar Land Rover Plans Voluntary Redundancies Amid Global Pressures

Jaguar Land Rover Plans Voluntary Redundancies Amid Global Pressures
Tata Motors owned Jaguar Land Rover plans redundancies: Report · thehindubusinessline.com

Jaguar Land Rover may ask some salaried and management employees if they want to leave their jobs.

This is called a voluntary redundancy programme.

Reports say as many as 4,000 jobs could be affected over two years.

The company wants to save about £1.7 billion.

It also wants to sell enough cars to make its business costs easier to manage.

JLR says difficult global conditions, a US tariff and a past cyberattack have hurt its business.

The Unite union says workers should not have to bear the cost of the company’s problems.

The UK government says it is concerned and has offered financial support to the car industry.

Key facts

Potential job cuts
Around 4,000 positions over two years
Programme type
Voluntary redundancies for salaried and management employees
Targeted savings
Approximately £1.7 billion over the next two years
Break-even target
300,000 vehicles
Reported pressures
Evolving global market conditions, a 10% US tariff on UK car imports and a cyberattack last year
Company leadership
P B Balaji became JLR chief last year after previously serving as Tata Motors’ finance chief
Government support cited
£4 billion for capital and research and development funding, plus a £2 billion electric-car grant

Quotes

UK government spokesperson

A spokesperson for the UK government

“As we deliver the next phase of our strategy we must adapt to evolving global market conditions while targeting approximately 1.7 billion pounds of savings over the next two years and reduce break-evens to 300,000 vehicles.”
thehindubusinessline.com
“We understand that this will be an uncertain and concerning time for affected workers, their families and wider communities.”
thehindubusinessline.com

Sharon Graham

General secretary of the Unite workers’ union

“Once again, we will leave no stone unturned to support these workers. It cannot be acceptable that workers again are made to pay the price.”
thehindubusinessline.com

Sources

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