Jaguar Land Rover will axe about 4500 employees, as it tries to keep up with sales dip caused by “multiple geopolitical and regulatory disruptions as well as technology challenges”.
The British automative firm, a subsidiary of Indian-based Tata Motors, has in recent time faced headwinds, including a drop in demand for diesel cars given that ninety percent of its vehicles are diesel-powered.
Another challenge is the drop in sales in its biggest market – China.
The car maker has also complained about uncertainty caused by Brexit arguing it will shift the narrative of UK being a stable and competitive base for global manufacturing.
“We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry,” JLR’s chief executive Ralf Speth said.
The UK’s biggest vehicle maker further said that it will invest in electrification, with electric drive units to be produced at Wolverhampton and a new battery assembly centre to be established at Hams Hall, Birmingham.
According to the 2018 annual sales figures, the retail sales droppd by 4.6 per cent to stand at 592,708 compared with 2017.
