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Jaguar Land Rover Announces it is to Cut 450 Jobs
Jaguar Land Rover Announces it is to Cut 450 Jobs
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Home Page > Finance > Jaguar Land Rover Announces it is to Cut 450 Jobs
Jaguar Land Rover Announces it is to Cut 450 Jobs
Posted: Jan 15, 2009 |Comments: 0
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Just a few days after causing luxury saloon cars enthusiasts to purr with their launch of two exciting new models for 2009/2010 at the Detroit Motor Show, Jaguar Land Rover had the city to groaning, but only slightly, with the announcement that the company is to cut 450 jobs in 2009.
The Bulk of the jobs to be cut are in the group’s management sector, with 300 managers to be laid off. The remaining 150 will come from the factory floor.
Despite some very cautious optimism for sales in 2009, Jaguar Land Rover announced that they had a very tough 2008.
Overall, sales of new cars dropped by 11% in the UK during 2008, with the last quarter of the year being especially tough.
Strangely enough, sales at the top end of the market appear to be doing proportionately better, and this possibly the reason why Jaguar Land Rover’s
Owners Tata Motors of India appeared to have made a considerable effort to keep their factory floor staff as intact as possible.
Jaguar Land Rover , acquired by Tata from Ford for £1.7bn in 2007 has a total work force of around 15,000 people based in their Castle Bromwich, Coventry and Solihull plants in the West Midlands as well as at Halewood, on Merseyside.
Jaguar Land Rover’s decision to cut jobs follows a trend in the UK car industry that is causing Business Secretary Lord Mandelson to furrow his brow just a little.
When questioned on his thoughts on the Jaguar Land Rover redundancies. Lord Mandelson replied”: “Jaguar Land Rover’s decision today reflects the continued downturn in the market and that is a reflection of what is happening more generally in the global economy.”
Mandelson has recently revealed that the government was looking into a possible rescue package for the entire UK car industry in the wake of recent job cuts, not just at Jaguar Land Rover but also at other UK plants, most prominently Nissan’s North East plant where 1,600 jobs will be lost,
This article was written by eCommerce Associates for Bank — Accounts and our Finance Blog
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