Jaguar to slash 4,500 jobs amid Brexit slump [MSN Money]
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Source: MSN Money
Jaguar to slash 4,500 jobs amid Brexit slump Jaguar Land Rover plans to slash ,500 jobs worldwide, as the U.K.’s biggt automobile maker rponds to the sal slowdown caused by Brexit, flagging demand for diel-powered vehicl and a downturn in China. The cuts, reprting roughly 0 perct the company’s workforce, are part of a .5 billion-pound ($. billion) push announced last year to reduce costs and boost cash flow through 00. They come on top of the ,500 people who left the company in 08. © Bloomberg The rtructuring was announced on the same day that Ford said it will cut thousands of jobs in Europe. Jaguar, a symbol of British carmaking, and Ford are both vulnerable to a U.K. market that tumbled the most in 08 since the depths of the financial crisis. That could get worse in a hard Brexit, while carmakers across the globe grapple with a downturn in China and prsure to invt in electrified and autonomous cars. Read More: Ford’s Global Cost Purge Hits Europe With Thousands of Job Cuts Jaguar L
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