Jaguar Land Rover is reportedly set to announce up thousands of job cuts as part of its £2.5 billion (RM13.3 billion) savings plan aimed at curbing the effects of falling sales and the looming threat of Brexit. According to a report by the Financial Times, the automaker will announce early next year it will be cutting up to 5,000 jobs in 2019.
The 18-month cost-cutting plan was announced in October, but there were no specifics as to what measures would be taken to improve profits. The publication was told by sources that the job cuts were in the short-term plan. The automaker did not comment on the matter, describing the claims as speculation.
The company employs around 40,000 people in the UK, and had already terminated the services of 1,000 temporary contract workers at its Solihull plant – which builds the Land Rover Discovery and Range Rover – earlier this year. Falling sales in China and diminishing demand for its sedans and diesel-equipped models have not helped the cause – the company posted a loss of 90 million pounds in the third quarter.
The plan to revive the automaker’s fortunes include a reduction in annual investment from £4.5 billion (RM23.9 billion) to £4 billion (RM21.25 billion) this year and next, a reduction in the stock of finished cars it holds and its working capital by £500 million. The company has already introduced a freeze on recruitment and all non-essential travel as part of its cost-cutting measures.
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Good move Tata. JLR falling sales, P1 no impact
alamak, mourinho gonna loose side income now.
Proton how many ? Don’t need 5000 staff to stick badge
But need 10,000 staff to bring in 15,000 bookings for X70. Seems like a fair number. So far no one has booked our D38, Im so sad.
Meanwhile Geely Empire pecah sales and profit record.
Majulah Geely Empire!
Volvo, Polestar, Lotus, Lynk & Co, London Taxi, Mercedes, Volvo Trucks, Proton, Geely > all
Fistbump bro!
Behind the reason is industry 4.0. More robots, more automation and using cloud computing. Can save a lot of money and increase efficiency.
Abesla those Brits! Must be because they lepak, tidur and minum teh 8x.
Orz! Lucky P1 din went with Jag Landdie for their partnership. Geely still the best.
using basher logic, JLR people not working hard enough, not smart enough- need to import workers and brain from mainland China.
Yup. Where is that dude now? Went back hiding in his cave?
Really, cave..? You’re too kind.
JLR people hav smart brain from tata India
Nowdays is all about cut cost. Very pity this universe. Full with human but can’t fully utilize man power anymore. Human being dominate by machine.