UK’s Jaguar Land Rover to cut 10% of workforce under turnaround plan
Britain’s Jaguar Land Rover said on Monday it would cut nearly 10% of its workforce through voluntary redundancies over the next two years, as the car industry faces heightened pressures including from Chinese competition and tariffs.
Last week, German carmaker Volkswagen approved plans to cut another 50 000 jobs in its attempt to counter painful tariffs, overcapacity and aggressive Chinese rivals.
COST CUTS AND COMPETITION JLR said it would launch five new products over the next 12 months and continue investing £15 billion to £18 billion over the next five years in electrification, digital technologies, advanced manufacturing and customer experience improvements.
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