JAGUAR Land Rover is expected to cut 4,000 jobs as part of a major redundancy programme, according to reports.
Britain’s biggest carmaker is set to formally announce the cuts on Monday, The Times is reporting.
The job losses will be spread over two years and staff were warned to expect the announcement late on Friday.
Jaguar Land Rover directly employs 34,000 people in the UK.
It has three sites in the West Midlands and one in Halewood, Merseyside.
The cuts are thought to be due to soaring costs, plunging sales and the fallout of Donald Trump‘s tariffs.
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The carmaker’s revenue fell by nearly 10% in the most recent quarter, while its pre-tax profits plunged by more than two-thirds to £109million.
It has been coming under pressure from its Indian owner Tata Motors to reduce costs following a decrease in sales.
Jaguar Land Rover boss PB Balaji was brought in last year from Tata Motors to get a grip of the company’s finances.
However the firm has also taken a hit from the US president’s choice to impose a 10% tariff on UK car imports.
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North America represents 29% of Jaguar Land Rover’s sales and is its biggest market.
The company was also hit by a cyberattack last year that ground its global operations to a halt for months.
A Jaguar Land Rover spokesperson told The Times: “Over the past three years, we have strengthened our House of Brands and transformed our product portfolio for the next generation.
“As we deliver the next phase of our strategy we must adapt to evolving global market conditions while targeting approximately £1.7 billion of savings over the next two years and reduce break-evens to 300,000 vehicles.
“To achieve this, we must further simplify our organisation, improve efficiency and build greater resilience.
“Today, we informed our colleagues and trade union partners that JLR is opening a voluntary redundancy programme offering salaried and management team members the opportunity to leave the business. We will share further information with our colleagues first.”
The carmaker already revealed plans in July to axe around 300 UK job roles.
It said it was part of a corporate “restructure” and that salaried and managerial positions would be affected by the move.