Jaguar Land Rover plans 4000 job cuts
Automaker Jaguar Land Rover intends to cut 4000 jobs over the next two years, citing rising costs, falling sales, and US tariffs as key drivers.
Jaguar Land Rover is preparing to reduce its workforce by 4000 employees over the next two years, according to reports. The cuts are a response to escalating costs, a significant decline in sales, and pressure from US tariffs.
The company has alerted employees to the impending changes, with plans expected to be announced early next week. Jaguar Land Rover stated it will implement a voluntary redundancy program aiming to save approximately £1.7 billion over the two-year period. The automaker seeks to lower its break-even sales volume to 300,000 vehicles and streamline operations amidst a shifting global market environment, though specific headcount reductions were not disclosed.
Jaguar Land Rover, which employs around 33,000 people in the UK and is owned by India's Tata Motors, reported a nearly 10% drop in revenue and a 69% decrease in pre-tax profit in its most recent quarter. The company has also faced challenges including declining demand in the Chinese market and a cyberattack last year.
Broader industry pressures are evident, with other European manufacturers like Volkswagen Group also announcing substantial workforce reductions to navigate market challenges and competition from lower-priced Chinese electric vehicles.