Crisis at car manufacturer: Jaguar Land Rover must cut costs: 4,000 jobs to be lost
Europe's automotive industry is fighting against decline. Reforms are intended to get the companies back on track. Now, British car manufacturer Jaguar Land Rover is also announcing drastic cuts.
Jaguar Land Rover has announced a major savings package, including significant job cuts, due to rising costs, declining sales, and increased competition. The British car manufacturer, owned by India's Tata Motors, will cut around 4,000 jobs over two years, aiming to save £1.7 billion. The company, which employs around 43,000 people worldwide, mostly in the UK, will see job losses across its global workforce, with reports suggesting that research and development staff and management will be offered voluntary redundancy.
Jaguar Land Rover's CEO, P.B. Balaji, stated that the company is taking "decisive steps" to strengthen its competitiveness and position itself for long-term success.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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