Indian-owned Jaguar Land Rover to slash 4,500 jobs
To recoup losses, Jaguar Land Rover is planning to cut its global workforce by 4,500.
The company has suffered a double-digit percentage drop in sales in China – the first drop in 20 years – and a lower demand for diesel vehicles in Europe.
Jaguar Land Rover, which is owned by Indian conglomerate Tata, reportedly registered US$450 million in losses between April and September last year. Last year saw its sales drop by 4.4%.
The majority of the job losses will be coming from its 40,000 strong United Kingdom workforce as part of the plan to cut costs by US$3.2 billion.
The managerial, research, and sales and design will be most impacted by the cuts.
The redundancies follow a previous round 1,500 job terminations last year.