Jaguar Land Rover to cut up to 5,000 jobs

Jaguar Land Rover to cut up to 5,000 jobs

The layoffs are part of a £2.5bn cost-cutting plan amid what industry insiders have called a “perfect storm”.

They mean a downturn in Chinese sales, a slump in diesel sales and concerns about UK competitiveness post-Brexit.

China is the company’s biggest and hitherto most profitable market.

But sales in China have fallen nearly 50% in recent months as cautious Chinese consumers have been holding back on big ticket purchases amid global trade tensions.

BBC News

https://www.bbc.com/news/business-46810473