Land Rover confirms it will cut up to 4500 jobs in a bid to reverse losses
For some, Jaguar Land Rover making cuts will sound a little bit like De ja vu; as it was almost this time last year that JLR cut 1000 temporary workers jobs from its plant in Solihull.
But unfortunately in October last year JLR received another slap of bad news, in the form of a £90 million loss forcing the company to take some drastic actions.
So far the plan is to implement a voluntary redundancy programme in the UK over the next 18 months, which JLR believes will greatly improve their cash flow and will create a more resilient organisation. When asked to make a comment on the matter the company’s cheif executive Ralf Speth said “it’s a very, very hard day. And I know what it means at the end of the day to lose people, and what kind of impact it has to families and to the respective people. But we have to act.”
As well as the cuts, JLR is also going to make some new investments as well. One of which will see a new battery assembly centre set up in Hams Hall. Wolverhampton will also be the home to the ‘next generation‘ electric motors facility.
There is no doubt that a contributing factor to the drop in revenue for the company is something to do with BREXIT as the threat of a poor exit deal with the EU could cost JLR approximately £1.2 billion a year.
The sad news also comes on the same day as Ford announcing that they too will be making job cuts across Europe.