11 Hrs
Source:
Sky News
Jaguar Land Rover to cut 4,000 jobs worldwide
British Jaguar Land Rover has announced its plan to cut around 4,000 jobs worldwide over the next two years in order to reduce costs and enhance competitiveness. The company aims to achieve savings of approximately £1.7 billion (about $2.3 billion), while reducing its operating breakeven point to around 300,000 vehicles. This move is part of a broader strategy to restructure the business and invest in modern technologies such as electric vehicles and advanced manufacturing, amid growing pressures on the global automotive industry from rising costs and the shift toward electric mobility. Additionally, the company plans to launch five new models in the coming year, with an investment of between £15 billion and £18 billion over five years to strengthen its technological capabilities and competitiveness.
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