Jaguar Land Rover to layoff thousands of jobs in $2.3 billion cost-saving overhaul

Share

Jaguar Land Rover will offer voluntary redundancies to thousands of employees as part of a major restructuring. The British carmaker, owned by India’s Tata Motors, plans to cut up to 4,000 jobs over two years to achieve approximately £1.7 billion ($2.3 billion) in savings. The company is lowering its break-even point to 300,000 vehicles and cites intensifying competition from Chinese automakers, a cyberattack, and U.S. President Donald Trump’s tariffs as key drivers. This cost-cutting wave follows similar announcements at Aston Martin and Bentley, and mirrors Volkswagen’s historic transformation plan which also calls for roughly 50,000 job cuts.

Source: Read the original article

Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

Lire la Suite

Articles