Science & Tech
UK's Jaguar Land Rover to cut 4,000 jobs over next two years
British luxury carmaker Jaguar Land Rover said on Monday it would cut around 4,000 jobs globally over the next two years as part of a broader plan to reduce costs and improve competitiveness.
The manufacturer, which has major sites in central England, said it was targeting 1.7 billion pounds ($2.30 billion) of savings, lowering its break-even point towards 300,000 vehicles. JLR employs about 30,000 in the UK out of a global workforce of about 40,000.
Business minister Jonathan Reynolds said on Sunday he would meet Chief Executive PB Balaji this week to discuss the planned job cuts following media reports of the plans.
Source: Reuters
--Agencies
