Jaguar Land Rover is slashing 4,500 jobs

Britain's biggest carmaker is cutting thousands more jobs.Jaguar Land Rover (JLR) will reduce its glo...

Posted: Jan 10, 2019 2:45 PM
Updated: Jan 10, 2019 2:45 PM

Britain's biggest carmaker is cutting thousands more jobs.

Jaguar Land Rover (JLR) will reduce its global workforce by 4,500 as part of a plan to cut costs by £2.5 billion ($3.2 billion), it announced Thursday. That's in addition to 1,500 people who left the company last year.

Automotive industry

Business and industry sectors

Business, economy and trade

Companies

Continents and regions

Employee termination

Europe

Human resources and personnel management

Jaguar Land Rover Automotive

Labor and employment

Northern Europe

Personnel changes

Personnel management

United Kingdom

The company, owned by India's Tata Motors (TTM), has been under pressure in major markets like China, where car sales in 2018 slumped for the first time in 20 years. JLR sales in China, its biggest market, fell around 42% in December and 22% in 2018, the company said Thursday.

It has also suffered from the uncertainty surrounding Brexit and a collapse in sales of diesel vehicles in the wake of Volkswagen's (VLKAF) emissions scandal. In September, it put hundreds of workers at one of its UK plants on a three-day work week.

"We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry," CEO Ralf Speth said in a statement.

Brexit is one of those factors. The company has said that crashing out of the European Union without maintaining a smooth relationship with the bloc would wipe out more than £1.2 billion ($1.5 billion) of its annual profit.

Speth has also previously cautioned that the "wrong outcome" would jeopardize company plans to spend £80 billion ($102 billion) in the United Kingdom over the next five years.

Thursday's announcement included a commitment to invest in a new UK assembly center for batteries that will be used to make electric drive units at an existing engine plant. JLR is aiming to offer electric versions of all its models by 2020.

JLR is not the only carmaker feeling the pain of disruption sweeping the industry. American rival Ford (F) said Thursday that it would get rid of thousands of jobs in Europe as part of an $11 billion global restructuring program.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2382450

Reported Deaths: 54983
CountyCasesDeaths
Kings31801110729
Queens30525510139
Suffolk2271813515
Nassau2063723251
Bronx2016276692
New York1612914603
Westchester1406262328
Erie988711881
Richmond855581903
Monroe778961155
Orange54422887
Rockland50818768
Onondaga45732713
Dutchess33716484
Albany28365368
Oneida25714546
Niagara22094382
Broome21664385
Saratoga18388187
Ulster16310271
Schenectady15251215
Rensselaer13276154
Putnam1180896
Chautauqua10909156
Oswego9588101
Chemung9021145
St. Lawrence8864115
Ontario850797
Steuben8342157
Cayuga7907100
Sullivan778781
Jefferson744271
Wayne693978
Cattaraugus671096
Genesee6045129
Herkimer5989117
Tompkins592659
Clinton565534
Madison538697
Fulton529897
Livingston516366
Montgomery5076133
Cortland481170
Warren468476
Columbia4632108
Tioga438567
Chenango416886
Otsego416251
Allegany400092
Greene393883
Washington392662
Wyoming390154
Orleans361184
Franklin351216
Lewis317736
Delaware305640
Seneca246759
Schoharie207220
Essex193429
Yates139626
Schuyler127716
Hamilton4073
Unassigned13436
Out of NY0288
Utica
Partly Cloudy
70° wxIcon
Hi: 73° Lo: 61°
Feels Like: 70°
Oneonta
Cloudy
68° wxIcon
Hi: 74° Lo: 63°
Feels Like: 68°
Herkimer
Partly Cloudy
70° wxIcon
Hi: 76° Lo: 60°
Feels Like: 70°
Old Forge
Partly Cloudy
70° wxIcon
Hi: 73° Lo: 61°
Feels Like: 70°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
NEW Game Day Deals each week
Follow the 2021 Go the Distance Team - sponsored by Gilroy Kernan & Gilroy
Chapter Photofacial Therapy Giveaway
Looking for work or looking to hire? Check out the WKTV Job Fair!
Saluting Those Who Are Proud 2 Serve