The British Jaguar Land Rover will offer voluntary redundancy proposals to four thousand workers over the next two years, as part of a restructuring measure aimed at reducing costs by 1.9 billion euros. The company faces strong pressure caused by competition from cheaper Chinese car manufacturers, a recent cyberattack, and tariffs imposed by United States President Donald Trump.
Jaguar Land Rover, controlled by the Indian Tata Motors, confirmed through a spokesperson to CNBC that it is opening a voluntary redundancy programme, offering employees and management team members the opportunity to leave the company. The car manufacturer employs 30,000 people in the UK, out of a total of around 40,000 employees worldwide.
The company stated that it needs to adapt to evolving global market conditions and reduce production to around 300,000 vehicles. "To achieve this goal, we need to further simplify our organisation, improve efficiency and increase our resilience," the spokesperson declared.
Despite the cuts, Jaguar Land Rover plans to launch five new products in the next 12 months and invest 20 billion euros over the next five years in electrification, digital technologies and improving customer experience.
