Jaguar Land Rover to cut 5,000 UK jobs

The carmaker has already moved to ensure it will still have a plant inside the EU after Britain’s planned departure from the bloc on March 29. (File/AFP)
Updated 10 January 2019

Jaguar Land Rover to cut 5,000 UK jobs

  • The iconic British carmaker, which is owned by India’s Tata Motors, employs more than 40,000 people in Britain
  • The job layoffs are part of a £2.5 billion ($3.2 billion, 2.75 billion euro) cuts program

LONDON: Jaguar Land Rover is set to announce up to 5,000 job cuts on Thursday, the BBC reported, after being buffeted by slumping sales in China and concerns over Brexit.
The iconic British carmaker, which is owned by India’s Tata Motors and employs more than 40,000 people in Britain, could not immediately be reached for comment when contacted by AFP.
Marketing, management and administration roles are expected to be those most affected, the BBC report said.
According to the broadcaster, the job layoffs are part of a £2.5 billion ($3.2 billion, 2.75 billion euro) cuts program.
The report said JLR had been hit by a slump in Chinese sales, a downturn in diesel vehicle sales and fears about Britain’s competitiveness after Brexit.
The carmaker has already moved to ensure it will still have a plant inside the European Union after Britain’s planned departure from the bloc on March 29.
In October, JLR opened a 1.4-billion-euro ($1.6-billion) factory in Nitra, western Slovakia, its first in continental Europe.
In July it had warned that a “bad” Brexit deal could jeopardize planned investment of more than $100 billion, saying the future was unpredictable if free and frictionless trade with the EU and unrestricted access to its single market was not maintained.
Britain’s business minister Greg Clark said a no-deal Brexit would be a disaster for the firm.
“JLR is a stellar company with a first-class workforce,” he told BBC radio.
“They have always been clear that their success depends on exports, including to the rest of the EU.
“They are one of the prime examples of a brilliant just-in-time manufacturing process... that helps them be competitive.
“Given the difficulties that they are going through... to add further costs and further disruption from a no-deal Brexit, it’s clear why they have been so clear why this would be against their interests.”


World should back Vision 2030 strategy says global risk guru

Updated 22 November 2019

World should back Vision 2030 strategy says global risk guru

  • Ian Bremmer: When I see how much more dynamic Riyadh is compared to two years ago, it’s really undeniable that they are actually trying to modernize society
  • Bremmer: They are hosting the G20, and that could help to make them confident enough to push forward on a resolution to the Qatar issue

BEIJING: The world should back Saudi Arabia’s transformation strategy under Vision 2030 despite the challenges the Kingdom has faced, according to Ian Bremmer, one of the leading political risk advisers in the world.

“When I see them moving toward Saudization, when I see how much more dynamic Riyadh is compared to two years ago, it’s really undeniable that they are actually trying to modernize society. I think that’s really important and we should all be rooting for that process to continue,” he told Arab News on the sidelines of the Bloomberg New Economy Forum in Beijing.

He said that the ongoing reforms in the Kingdom were helping it rebuild its international reputation following criticism over the death of journalist Jamal Khashoggi last year. “They are hosting the G20, and that could help to make them confident enough to push forward on a resolution to the Qatar issue.”

“It would be nice if there could be some reduction in the problem with Qatar, and some reintegration of the GCC, and there has been some progress toward that. The fact that we have a peace deal in south Yemen, that will make a difference too, and hopefully it will reduce some of the tension with Iran as a consequence,” he added.

Bremmer was speaking about climate change and other issues at the forum, at a session that acknowledged the difficulty of meeting targets to get rid of fossil fuels by the year 2050. He also talked about the looming “technology wars” between China and the US.