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(Sharecast News) - Jaguar Land Rover on Monday revealed it is planning to cut around a tenth of its global workforce as the business attempts to mitigate the impact of trade tariffs, heightened competition and weak demand in China.
In a statement, the Tata Motors division said it would slash around 4,000 roles through a voluntary redundancy programme aimed at salaried staff and managers, as opposed to manufacturing employees.
The company, which employs around 34,000 in the UK and a total of 43,000 globally, did not specify where the job cuts would come from.
The move is part of a £1.7bn cost reduction initiative over the next two years, which includes simplifying the corporate structure.
"The automotive industry faces significant challenges, with technological change amidst intense competition and ongoing geopolitical uncertainty," said chief executive PB Balaji.
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