Bentley to cut 1,000 jobs as part of financial review

Luxury carmaker Bentley is looking for 1,000 voluntary redundancies, but says it will not rule out compulsory ones in the future

Bentley is planning to cut 1,000 jobs as part of a comprehensive review into its cost and investment structure.

The Crewe-based luxury carmaker is looking for up to 1,000 voluntary redundancies and has sent letters to its 4,200 employees making them offers based on their length of service, age and salary. Financial support is also being offered towards career guidance for those who wish to change their career direction.

In a statement outlining the terms, Bentley made clear that it “cannot rule out future compulsory redundancies”.

The move is part of the Bentley100 strategy, which is set to “redefine” the century-old company for the next 100 years. The plans were due to be announced in March, but were pushed back as a result of the coronavirus pandemic.

Adrian Hallmark, chairman and CEO of Bentley Motors, said that COVID-19 was not the cause of the job cuts, but acted as a “hastener” due to a considerable forecast reduction in future revenues.

The firm says steps have already been taken to cut or delay any unnecessary spending within the business, while emphasising that future product plans have not been affected. Recruitment and pay rises, though, have been frozen, contractors have been released across the company and 66 per cent of colleagues were placed on furlough at the peak of lockdown.

Hallmark said: “Losing colleagues is not something we are treating lightly but this is a necessary step that we have to take to safeguard the jobs of the vast majority who will remain, and deliver a sustainable business model for the future through our Beyond100 strategy.

“The voluntary release programme at least allows the colleagues to make the personal choice and leave us with the most appealing and supportive offer possible within the circumstances.”

He added: “It is vital, even more so now with what is going on around us, that we look to the long-term future of Bentley. This means fundamentally redefining our company so we respond immediately to protect the business through this crisis, continue to lead our sector by reinventing the company and look to establish ourselves as the leader in sustainable luxury mobility for the next 100 years.”

What do you think of the job cuts at Bentley? Let us know in the comments...

 

Recommended

£1.5 million Bentley Speed Six Continuation Series announced
Bentley Speed Six Continuation Series - front
News

£1.5 million Bentley Speed Six Continuation Series announced

Following what it calls the “huge success” of its Blower Continuation Series, Bentley will build 12 brand-new versions of its Le Mans-winning Speed Si…
27 Jun 2022
Bentley reveals new Azure specification for Bentayga, Flying Spur and Continental ranges
Bentley Flying Spur Azure - side
Bentley

Bentley reveals new Azure specification for Bentayga, Flying Spur and Continental ranges

New comfort-oriented badge spans all of the brand’s current models and includes bespoke exterior and interior touches
25 May 2022
Bentley posts record profits to go with record sales in 2021
Bentley factory
Bentley

Bentley posts record profits to go with record sales in 2021

Last year was Bentley’s most profitable year ever, with the Bentayga SUV boosting sales
15 Mar 2022
New Bentley SUV to be brand’s first all-electric car when it arrives in 2025
Bentley EV - exclusive image
Bentley

New Bentley SUV to be brand’s first all-electric car when it arrives in 2025

Bentley will launch its first pure electric car in 2025, and our exclusive image previews how it could look
4 Feb 2022

Most Popular

EU demands speed limiters on all new cars from next week: know the rules and how they work
speed limiters
News

EU demands speed limiters on all new cars from next week: know the rules and how they work

Car industry body calls for UK government to adopt the new measures, but we’ll probably get them anyway…
29 Jun 2022
New MG 4 electric hatch arrives with 280 miles of range
New MG 4 2023
News

New MG 4 electric hatch arrives with 280 miles of range

The all-electric MG 4 hatchback rivals the Volkswagen ID.3 and introduces MG’s new MSP electric platform
28 Jun 2022
New 2022 Hyundai Ioniq 6 enters as sleek all-electric saloon
Hyundai Ioniq 6 - front
News

New 2022 Hyundai Ioniq 6 enters as sleek all-electric saloon

The Hyundai Ioniq 6 is the follow-up to the game-changing Ioniq 5 and packages the same EV technology into a streamlined shape
28 Jun 2022