Jaguar- Land Rover likely to cut jobs

A Jaguar Land Rover car sits at an assembly plant in Pune India

A Jaguar Land Rover car sits at an assembly plant in Pune India

According to the FT report, the cuts will be officially announced in January as part of a three-year cost-cutting program to help the company recover from the effects of trade frictions between the U.S. and China as well as the problems caused by the UK's potential no-deal exit from the European Union.

According to the report the job cut will be part of company's plan to save £2.5 billion to offset the likely impact due to Brexit, decreasing sales in China and poor demand of diesel cars. These factors prompted Jaguar Land Rover to announce a $3.15 billion turnaround plan that includes £1 billion ($1.26 billion) in cost reductions over the coming 18 months.

JLR now employs 40,000 people in the United Kingdom, mostly in the West Midlands.

JLR is also bracing for the possibility of the United Kingdom exiting the European Union next year without a deal, threatening to disrupt auto-industry supply chains.

A Union flag is seen behind a Jaguar car emblem outside a dealership in Manchester England
REUTERS Phil Noble Jaguar Land Rover Warns Hard Brexit Would Cost $106 Billion Says Will Leave UK

Last month we reported that Jaguar Land Rover had suffered a £90 million loss in Q3 as a host of factors - including Brexit, diesel demonisation and trade tensions in China - conspired to make the shining star of United Kingdom auto manufacturing look under siege. While the turnaround plan is welcome and Tata Motors' domestic business is looking up, there is no end in sight for its JLR woes.

In October the group announced its "Change and Accelerate" transformation programme which aims to deliver £2.5bn in cost savings by 2020.

JLR will also cut £1bn in costs and has already introduced a freeze on recruitment and all non-essential travel, as it battles falling demand. The second plan, the longer-term Project Accelerate, is expected to reduce Jaguar Land Rover's range of models.

"Unite will continue to press the vehicle maker for assurances over the jobs and skills of our members who have worked tirelessly over the past decade to make the company the global success story it is today".

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