Jaguar Land Rover to cut 4500 jobs

10 January, 2019, 22:39 | Author: Wade Massey
  • PA Wire  PA Images

JLR is also one of the most heavily-exposed auto makers to ongoing consumer confusion about the wisdom of buying a diesel vehicle in the aftermath of the VW emissions scandal.

Vehicle giant Jaguar Land Rover is to cut 4,500 jobs under plans to reduce costs by £2.5 billion, the company has announced.

So far, the "Charge and Accelerate" programme has identified over GBP 1 billion of improvements, with more than GBP 500 million already realised in 2018, the company said. Ford of Europe, based in Cologne, Germany, has 53,000 people working for it directly and 68,000 when joint ventures such as those in Russian Federation and Turkey are included.

Fellow auto makers Mini, Rolls-Royce and Honda have said they would temporarily close plants in April after Brexit to avoid any disruption.

Tata-owned JLR, based in central England, said it will cut 4,500 out of 42,500 jobs, while Ford said it will slash "thousands" of jobs as part of an overhaul that could result in plant closures and the discontinuation of some models.

"We can only allocate capital to areas where we can get a return on that capital". Automakers are contending with a slowing global marketplace. It is also working to ramp up its electric vehicle production.

Ford Europe reported a 245 million euro ($282 million) loss before interest and taxes in the third quarter, equivalent to a negative 3.3 per cent EBIT margin.

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Thursday's move is part of a £2.5 billion ($3.2 billion) push announced a year ago to reduce costs and boost cash flow through 2020. GM abandoned its Opel business in Europe after years of losses by selling it to France's PSA Group. "Falling sales in China due to global trade wars as well as changing consumer attitudes to diesel vehicles have been damaging". "This is in addition to the 1,500 people who left the company during 2018", the company said in a statement.

This means nearly one in eight United Kingdom workers will lose their jobs at the luxury carmaker, which employs 44,000 workers across the country, including around 1,800 people at its engine plant at the i54 in Wolverhampton.

Ford said Thursday that from now on every model will have a battery version, whether a hybrid that combines internal combustion and battery power or a battery-only version. The carbon dioxide reductions are part of the effort to reduce emissions of greenhouse gases blamed for global warming.

Some 5,000 jobs will be cut, mainly in management, marketing and administrative roles, the BBC reported.

But the industry also warned that Britain's departure from the European Union due at the end of March risks the future of a sector which employs over 850,000 people and has been one of Britain's few manufacturing success stories since the 1980s.

The company further said that the next phase of this transformation programme will begin with a voluntary redundancy programme in the United Kingdom, with a view to create a leaner, more resilient organisation with a flatter management structure.

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