Car giant Jaguar Land Rover is set to announce some 5,000 job losses in its latest business update on Thursday, according to reports. Thousands of jobs will be cut, mainly in management, marketing and administrative roles amid a slump in sales in China and falling demand for diesel cars in Europe. A source told Reuters that the carmaker would announce "substantial" job losses totalling in the thousands as the firm launches a £2.5bn plan to reverse losses. Owned by Tata Motors, the luxury carmaker employs 44,000 workers in the UK at sites in Halewood on Merseyside and Solihull, Castle Bromwich and Wolverhampton in the West Midlands. A source, who spoke on condition of anonymity, told Reuters: "The announcement on job losses will be substantial, affecting managerial, research, sales, design." Production-line staff will not be affected "at this stage," said the source. Up to 5,000 jobs will be cut amid what industry insiders have called a "perfect storm" - a downturn in sales in … [Read more...] about Jaguar Land Rover ‘to announce 5,000 job losses’ as demand for diesel cars falls
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Business Simon Jack Business editor @BBCSimonJack on Twitter 10 January 2019 comments Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/business-46810473 Read more about sharing. These are external links and will open in a new window Close share panel Jaguar Land Rover (JLR) will today announce it is cutting up to 5,000 … [Read more...] about Jaguar Land Rover to cut up to 5,000 jobs
There’s no doubt that 2018 has been a tough year for Jaguar Land Rover - but 2019 is set to be even tougher. Wind the clock back a year and the situation couldn’t have been more different to the storm clouds gathering right now. A year ago the Coventry car maker was still growing, turning over a handsome profit and talking about all sorts of exciting plans for the future - electrification, new models, a new factory in Slovakia and much more besides. Following on from its sale by Ford and good stewardship by owners Tata, Jaguar Land Rover really seemed to have the Midas touch. It was a great news story - not just for the 40,000 people employed by the car maker in the UK - but for the many tens of thousands more working in the automotive supply chain. Quite some time back Jaguar Land Rover’s UK boss Jeremy Hicks reckoned that Jaguar Land Rover supported around 100,000 jobs in the UK - that figure was probably a conservative estimate even then and there’s no … [Read more...] about What does 2019 hold for Jaguar Land Rover?
Jaguar Land Rover has opened its new factory in Slovakia and revealed the first images of the new high-tech production plant. The £1 billion manufacturing facility in Nitra employs 1,500 people and will manufacture the Land Rover Discovery. In June this year Jaguar Land Rover announced production of its largest model would switch from Solihull to Slovakia. JLR is the first UK car maker to open a factory in the former Eastern Bloc country. Jaguar Land Rover's Slovakian factory View gallery Around 1,500 people are currently employed in Nitra, 98 per cent of whom are Slovak nationals. Approximately 30 per cent of Nitra workers are women. A second recruitment drive will be launched this November with the aim of hiring another 850 staff. The Coventry car maker said its investment in Nitra marks the latest step in its global expansion strategy. This follows the opening of its Chinese joint venture in 2014 and Brazilian plant in 2016, supported by contract manufacturing in India … [Read more...] about This is what Jaguar Land Rover’s Slovakian factory looks like
Luxury car maker Jaguar Land Rover made £47.50 in profit every second last year. According to its annual report for 2017/18, the manufacturer posted pre-tax profit of £1.5 billion for the 12 months to March 31, 2018. This is the equivalent of £4.1 million per day, £171,230 per hour or £2,853 per minute. The company's revenue climbed from £24.3 billion in 2016/17 to £25.8 billion in 2017/18, meaning in generated in £770 turnover every second last year. BirminghamLive has crunched the numbers contained in the manufacturer's most recently published annual report after it announced it was scaling down production at its plant in Castle Bromwich to three days a week. Writing in the report, chief executive Ralf Speth described the 2017/18 figures as "a solid business and financial performance", adding that the firm was proud to be named again as Britain's largest automotive manufacturer which was "respected across the world". He said: "Our global … [Read more...] about The amount of profit Jaguar Land Rover makes each second