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- October 13, 202619°
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- INTEREST37.00%-1.00
- BITCOIN82,797-1.05%
- October 13, 202619°
JLR to cut its global workforce by around 4,000 over two years
JLR executive PB Balaji announced that the company will launch a voluntary departure program to simplify its organizational structure and improve efficiency. The company aims to save around £1.7 billion over the next two years through the transformation.
Jaguar Land Rover (JLR), which operates under Tata Motors, will launch a voluntary departure program to adapt to changing market conditions and strengthen its competitiveness.
JLR executive PB Balaji said the automotive industry was facing significant challenges due to technological transformation, intense competition and ongoing geopolitical uncertainties.
Targeting £1.7 billion in savings over two years
Balaji announced that the company would simplify its organizational structure and improve efficiency. As part of this effort, JLR aims to save around £1.7 billion over the next two years.
Under the transformation plan, the company’s global workforce is expected to be reduced by around 4,000 people over the same period. JLR has approximately 34,000 employees in the United Kingdom, and most of the workforce reduction is expected to take place in the UK and in non-production positions.
Challenges facing the company
JLR has been dealing with high energy costs and US tariffs, as well as the impact of a cyberattack that halted production for around five weeks last year.
The company’s revenue in the April-June period also fell by approximately 10% compared with the same period last year. Demand for electric vehicles falling short of expectations and competition from lower-priced models made by Chinese manufacturers led JLR to lower its targets for producing zero-emission vehicles.
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