Jaguar Land Rover preparing to lay off thousands in U.K.: report [MarketWatch]
Tata Motors Ltd Tata Motors Limited (TTM)
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tatamotors.com/investor/volumes
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Source: MarketWatch
Jaguar Land Rover preparing to lay off thousands in U.K.: report Jaguar Land Rover is preparing to lay off thousands of workers in the U.K., the Financial Times reported over the weekend. The luxury auto maker, which is owned by India's Tata Motors Ltd. 500570, +0.00% will announce details of a cost-cutting plan in January, the FT reported. That plan, first announced in October, aims to save more than $3 billion over three years. Analysts told the FT that as many as 5,000 jobs in the U.K. may be lost. Jaguar Land Rover sales have slumped of late, and Tata is also reportedly worried about the growing possibility of a no-deal Brexit, which could disrupt its supply chain. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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