Jaguar Land Rover to cut up to 5.000 jobs in UK

YEREVAN, JANUARY 10, ARMENPRESS. Jaguar Land Rover will cut nearly 5.000 jobs from its 40,000 strong UK workforce, BBC reports.

Management, marketing and administrative roles are expected to be hardest hit, but some production staff may also be affected.

The layoffs are part of a £2.5bn cost-cutting plan amid what industry insiders have called a “perfect storm”.

They mean a downturn in Chinese sales, a slump in diesel sales and concerns about UK competitiveness post-Brexit.

China is the company's biggest and hitherto most profitable market. But sales in China have fallen nearly 50% in recent months as cautious Chinese consumers have been holding back on big ticket purchases amid global trade tensions.

Edited and translated by Aneta Harutyunyan