Brit Carmaker Joins Ford In Cutbacks

Britain’s biggest carmaker is cutting thousands more jobs.
Jaguar Land Rover (JLR) will reduce its global workforce by 4,500 as part of a plan to cut costs by £2.5 billion ($3.2 billion)  That’s in addition to 1,500 people who left the company last year.
The company, owned by India’s Tata Motors (TTM), has been under pressure in major markets like China, where car sales in 2018 slumped for the first time in 20 years. JLR sales in China, its biggest market, fell around 42% in December and 22% in 2018, the company said Thursday.
It has also suffered from the uncertainty surrounding Brexit and a drop in sales of diesel vehicles. In September, it put hundreds of workers at one of its UK plants on a three-day work week.
“We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry,” CEO Ralf Speth said in a statement.