Value Pack Jaguar Land Rover Is Cutting 4,000 Jobs

Source: dpa 1 min Reading Time

Jaguar Land Rover plans to cut 4,000 jobs. The positions are to be eliminated within two years.

Jaguar Land Rover is cutting 4,000 jobs.(Source:  Jaguar Land Rover)
Jaguar Land Rover is cutting 4,000 jobs.
(Source: Jaguar Land Rover)

British automaker Jaguar Land Rover has announced a comprehensive cost-cutting plan involving significant job cuts. According to the news agency PA, the company said 4,000 jobs will be eliminated over the next two years. In total, the automaker aims to save approximately 1.7 billion pounds—the equivalent of just under two billion euros ($2.32 billion)—through these measures.

 Jaguar Land Rover is the largest automaker in the United Kingdom. According to the BBC, the company employs approximately 43,000 people worldwide, most of them in the United Kingdom. “The automotive industry faces significant challenges, including technological change amid intense competition and ongoing geopolitical uncertainty,” CEO P.B. Balaji said, according to PA.

Like many other European automakers, the company is struggling with rising costs, falling sales, and increasing competition—particularly from China—among other challenges. Last year, a massive cyberattack on Jaguar Land Rover also resulted in losses amounting to billions.

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