Jaguar Land Rover to cut 4,500 jobs

(10 Jan 2019) Jaguar Land Rover said on Thursday it will cut 4,500 jobs as the carmaker addresses slowing demand in China and growing uncertainty about the UK's departure from the European Union. The luxury carmaker, owned by India's Tata conglomerate, said the cuts will be in addition to 1,500 people who left the business in 2018. The cost-cutting programme will begin with a voluntary reduction program in the UK, where some 44,000 people are employed. The latest job losses follow on from last year's 2.5 billion-pound (approx. 3.2 billion US dollars) turnaround plan that was designed to deal with many of the headwinds facing the company - Brexit, rising trade tensions between China and the US and new European emissions standards combined to push Jaguar into the red in the three months to 30 September, compared with the same period the year before. The company also announced further investment in electrification. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter:   / ap_archive   Facebook:   / aparchives   ​​ Instagram:   / apnews   You can license this story through AP Archive: http://www.aparchive.com/metadata/you...