Jaguar Land Rover announced plans to cut 4,000 jobs globally over the next two years, aiming to save £1.7 billion ($2.3 billion) to enhance competitiveness against rising competition from Chinese electric vehicle manufacturers. The company’s CEO, PB Balaji, highlighted the significant challenges in the automotive industry due to technological shifts, competition, and geopolitical uncertainties.
These job cuts are part of a broader strategy to invest £15-18 billion ($20-24 billion) over the next five years into electrification and digital technologies. The luxury automaker, known for producing vehicles like the Range Rover and Discovery, has faced increased competition, rising costs, and challenges from a cyberattack that previously disrupted production.
Most cuts are expected to impact its U.K. workforce, where Jaguar Land Rover employs about 34,000 people. Meanwhile, the British government has stated it will not provide a bailout for the company despite the challenging market conditions.
