- Jaguar Land Rover, Britain's largest car manufacturer, has announced plans to cut approximately 4,000 global jobs over the next two years as part of a drive to save £1.7 billion.
- The workforce reductions will predominantly impact office-based and management roles, with the majority of cuts affecting UK operations, where around 34,000 of its employees are located.
- The company is facing multiple headwinds, including recovery from a major cyber attack, rising operational costs, market pressure from cheaper Chinese electric vehicles, and tariffs implemented by US President Donald Trump.
- Business secretary Jonathan Reynolds has ruled out a UK government bailout for the carmaker but is scheduled to meet JLR leadership to discuss ways to mitigate the job losses.
- Despite the job cuts, JLR aims to launch five new products in the next 12 months and plans to invest £15 billion to £18 billion over the next five years in electrification and digital technologies.
IN FULL
