Jaguar Land Rover, the UK's largest automaker, announced plans to cut 4,000 positions over the next two years, according to The Times newspaper. The decision comes amid a surge in operational costs, a sharp decline in sales, and the effects of American tariffs on the industry.
Employees were informed on Friday evening that they should expect the official announcement of the layoff program on Monday, according to the British publication.
In a statement to Bloomberg, the company confirmed it is launching a voluntary redundancy program, aiming to save approximately £1.7 billion (US$2.3 billion or R$11.8 billion) over two years.
The automaker also said it intends to reduce its break-even point to 300,000 vehicles and simplify its operations in response to adverse global market conditions. The company did not specify how many positions would actually be eliminated through the program.
