Thousands at Jaguar Land Rover to be offered redundancies after falling profits
As many as 4,000 jobs could be cut over two years after cyberattack and US tariffs take toll Thousands of workers at Jaguar Land Rover (JLR) will be offered redundancies after Britain’s largest car manufacturer had its revenues slashed by falling sales, a cyberattack and Donald Trump’s tariffs. JLR informed workers and their union on Saturday that the company would be opening a voluntary…
Jaguar Land Rover (JLR) is set to offer redundancies to as many as 4,000 employees over a two-year period, following a decline in profits caused by falling sales, a cyberattack, and US tariffs. The company, which is owned by Indian conglomerate Tata Motors, informed workers and their union on Saturday that it will open a voluntary redundancy programme for salaried and management team members.
JLR aims to save about £1.7bn over the next two years. Unite's general secretary, Sharon Graham, and business secretary, Jonathan Reynolds, are to meet with JLR's chief executive, PB Balaji, next week to discuss ways to mitigate the job losses. The UK's 30,000 workers, who are based at 14 plants across the West Midlands, will be particularly affected, as the company is one of the region's largest employers.
The redundancies come at a difficult time for JLR, which posted a profit before tax of only £14m last year, down from £2.5bn the previous year. A cyberattack in 2020 led to a 27% drop in production and cost the company around £200m, while tariffs on vehicles imported into the US, which Trump raised to 25%, further impacted the carmaker.
JLR is attempting to boost its presence in the US market by introducing its first electric Range Rover, which starts at £154,070.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
