Advertisement

Jaguar Land Rover to cut up to 1,100 UK jobs

British carmaker JLR sees £501 million pre-tax profit loss in fourth quarter of 2019/20 financial year due to coronavirus pandemic

Jaguar Land Rover is set to cut more than 1,000 jobs in the UK after the company suffered a large financial loss as a result of the coronavirus pandemic. The manufacturer anticipates a maximum of 1,100 temporary contract-agency employees in its UK sites will lose their jobs as part of the firm’s cost-saving measures.

Advertisement - Article continues below

Although JLR had returned to profitability in the second and third quarters of the 2019/20 financial year, the fourth quarter brought the coronavirus pandemic and UK lockdown, resulting in a pre-tax profit loss of £501 million for the company.

Sales of new JLR cars were down 30.9 per cent year-on-year in Q4 to 109,869 units, while full financial year sales fell 12.1 per cent to 508,659.

The firm already had cost-saving measures in place, but COVID-19 meant these actions needed to be increased, with a target now having been set for £3.5 billion of cumulative savings by 31 March 2021.

JLR chief executive Ralf Speth commented: “Jaguar Land Rover’s early action to transform its business meant that as a company we were on track to meet our full-year expectations and operational and financial targets before the pandemic hit in the fourth quarter.

“We also reacted quickly to the disruption caused by COVID-19. Our immediate priority has been the health and wellbeing of our people, and this remains the case as we have now begun the gradual, safe restart of our operations.”

He added: “Our operational fitness gives me confidence that we can weather this storm.

For Jaguar news and reviews, visit our dedicated hub page here.

Advertisement
Advertisement

Recommended

Coronavirus: what does it mean for cars and motorists?
News

Coronavirus: what does it mean for cars and motorists?

The global Covid-19 pandemic has had a major impact on life in the UK. Here’s everything you need to know about how it affects cars, motorists and the…
27 May 2020
Jaguar Land Rover is developing a hydrogen fuel cell SUV
Jaguar

Jaguar Land Rover is developing a hydrogen fuel cell SUV

British firm is evaluating and looking into the development of a new hydrogen fuel cell SUV
25 Jun 2020
‘Jaguar Land Rover’s next leader needs to bring big change in the right places’
Jaguar

‘Jaguar Land Rover’s next leader needs to bring big change in the right places’

Editor-in-chief Steve Fowler hopes Tata Sons makes the right decision when it comes to appointing Sir Ralf Speth’s replacement as Jaguar Land Rover CE…
24 Jun 2020
Classic electric car conversions boom in popularity
Electric cars

Classic electric car conversions boom in popularity

Retrofitting electric powertrains to classic cars is becoming fashionable for the environmentally conscious and well-heeled
24 Jun 2020

Most Popular

New Skoda Octavia vRS line-up completed as petrol and diesel models arrive
Skoda Octavia vRS Hatchback

New Skoda Octavia vRS line-up completed as petrol and diesel models arrive

Skoda has unwrapped the complete Octavia line-up, which now offers a choice of petrol, diesel or plug-in hybrid powertrains
3 Jul 2020
Skoda Octavia Estate vs Toyota Corolla Touring Sports
Estates

Skoda Octavia Estate vs Toyota Corolla Touring Sports

Skoda’s new Octavia Estate has moved upmarket. We find out if it’s a better wagon than the Toyota Corolla Touring Sports
4 Jul 2020
Updated MG ZS launched with new look and fresh tech
MG ZS SUV

Updated MG ZS launched with new look and fresh tech

MG has given its ZS SUV a mid-cycle facelift, adding a few subtle styling tweaks and some extra interior technology
3 Jul 2020