1 day ago
McLaren to Create 1,000 Jobs in £450m Woking Investment
McLaren makes expensive sports cars and is based in Woking, England.
It plans to spend £450 million on its technology centre.
The company says this could create 1,000 jobs.
Some of these jobs may be indirect or provided through agencies.
McLaren currently has about 2,500 employees.
Its owner, CYVN Holdings, has promised to invest more money in the company.
The investment is happening while other carmakers are cutting jobs.
McLaren is also considering new products, possibly including an SUV, but no new details have been announced.
McLaren plans to invest £450 million in its technology centre in Woking, Surrey.
The investment is expected to create 1,000 jobs, including indirect and agency positions.
McLaren currently employs about 2,500 people, while its automotive business is loss-making.
The announcement follows Jaguar Land Rover’s plan to cut 4,000 jobs over two years.
McLaren’s investment comes amid difficult conditions for European carmakers, including Chinese competition and trade pressures.
- Who
- McLaren, with investment support from CYVN Holdings.
- What
- A planned £450 million investment in McLaren’s Woking technology centre, expected to create 1,000 jobs.
- Where
- Woking, Surrey, in the United Kingdom.
- When
- The announcement was made after Jaguar Land Rover announced planned job cuts; the articles do not give an exact announcement date.
- Why
- To support McLaren’s business and technology operations as the company faces difficult trading conditions and considers a product overhaul.
Key facts
- Investment
- £450 million
- Planned jobs
- 1,000, including indirect and agency positions
- McLaren workforce
- About 2,500 employees
- Location
- Technology centre in Woking, Surrey
- Owner investment plan
- CYVN Holdings has said it plans to invest $2 billion (£1.4 billion) in McLaren over five years
- Industry context
- Jaguar Land Rover plans to cut 4,000 jobs over two years
- Potential product expansion
- McLaren has reportedly been planning an SUV, but no new information has emerged
Quotes
Lachlan Buirds
Managing director of manufacturer Edale
“McLaren's investment is a welcome reminder that UK manufacturing is a sector with a future. Recent redundancy announcements understandably attract attention, but they risk giving young people the impression that UK manufacturing is an industry in decline. In reality, modern manufacturing increasingly depends on engineering, automation, software and digital technology, creating a much broader range of career opportunities.”
easterneye.biz
Sources
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