BRITAIN’S biggest car maker will not receive a government bailout – as thousands of jobs are at risk.
This comes as part of a major redundancy programme, according to reports.
Jaguar Land Rover is expected to announce more than 4,000 job cuts as part of a voluntary redundancy programme to help save the company billions over the next two years.
Business Secretary Jonathan Reynolds has already confirmed there will be no government bailout for Britain’s largest car manufacturer.
Instead, he is expected to meet the firm’s leadership team early this week to “mitigate any job losses”.
JLR announced in a statement over the weekend that it would be opening a voluntary redundancy programme to offer salaried and management team members the opportunity to leave the business.
Staff were warned to expect the announcement late on Friday, with the majority of cuts expected to affect UK operations.
A JLR spokesperson said: “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 need to 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.”
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