Jaguar Land RoverPrivate▼ Negative
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JLR is cutting ~4,000 jobs amid pressure from intensifying competition by Chinese automakers.
Jaguar Land Rover, the British luxury carmaker, plans to cut around 4,000 jobs, or nearly 10% of its global workforce, over the next two years through a voluntary redundancy program, amid pressure from competition by Chinese automakers and trade tariffs. The program will target permanent and management staff, which number around 26,000, while the company has about 43,000 employees worldwide, of whom 34,000 are in the UK. CEO P.B. Balaji said the automotive industry is facing multifaceted challenges, including technological change, intensifying competition, and geopolitical uncertainty, prompting the company to restructure and simplify its operations to control costs. The company aims to reduce expenses by 1.7 billion pounds (about 2.3 billion dollars) and lower its breakeven point to around 300,000 vehicles. The company is also recovering from a cyberattack in 2025 that halted production for an extended period, and plans to launch five new models within the next 12 months, with an investment of 15-18 billion pounds over five years to develop electric vehicles, digital technology, and advanced manufacturing systems. The job cut announcement also puts pressure on the UK government, which is trying to stimulate the economy. Business Secretary Jonathan Reynolds discussed the matter with Balaji on Monday and plans further talks with the company and unions this week.
JLR is cutting ~4,000 jobs amid pressure from intensifying competition by Chinese automakers.