The UK’s largest car maker Jaguar Land Rover will cut some 4,500 jobs from its 40,000 strong workforce amid uncertainty over Brexit, a fall in sales to China and a downturn in diesel sales.
The move forms part of a £2.5 billion (Dh11.72bn) plan to slash costs over 18 months. The layoffs, first reported by the BBC, are likely to affect management, marketing and administrative roles in particular, although production staff could also be hit by the decision.
It is being billed as an operation to shore up the companies long-term strategic operating efficiencies, and deliver cost reductions and cash flow improvements.
This adds to the added 1,500 workers let go in 2018.
“Decisive action will help deliver resilient long-term growth as Jaguar Land Rover implements cost and profit improvements. This will safeguard our future and enable vital ongoing investment into Autonomous, Connected, Electric," said CEO Ralf Speth in a statement.
“The announcement on job losses will be substantial, affecting managerial, research, sales, design,” a source previously told Reuters.
Overall, sales dropped by 4.4 per cent in the first 11 months of 2018 and in China by 44 per cent between July and September last year. It recorded a loss of £354 million between April and September.
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The company has also increased preparations for a no-deal Brexit, with the UK planning to leave the European Union on March 29. Jaguar Land Rover has previously warned a poor Brexit deal could damage tens of billion of pounds of investment it has planned to make.
As the car company producing most of its products in the UK compared to its rivals, a "hard" Brexit could cause problems with tariffs and custom unions would be particularly damaging.
Jaguar recently announced plans to transfer production of its Land Rover Discovery to Slovakia and in October 2018 closed its Solihull plant in the UK for two weeks.
The specs
The%20specs
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UAE currency: the story behind the money in your pockets
RACE CARD
6.30pm Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m
7.05pm Handicap (TB) $68,000 (Turf) 2,410m
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9.25pm Handicap (TB) $65,000 (T) 1,000m
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The National Editorial: Is there much to celebrate on International Women's Day 2021?
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David Frum: What Joe Biden has to fix - and preserve - from the Trump era
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DAY%20ONE%20RESULT
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
ASHES FIXTURES
1st Test: Brisbane, Nov 23-27
2nd Test: Adelaide, Dec 2-6
3rd Test: Perth, Dec 14-18
4th Test: Melbourne, Dec 26-30
5th Test: Sydney, Jan 4-8
Killing of Qassem Suleimani
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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Jack Moore: Why the assassination is such a monumental gamble
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Damien McElroy: A CEO tasked with spreading Iran's influence
Simon Waldman: Cautious Israel keeping a low profile
Company%20profile
Company%20Profile
RESULT
West Brom 2 Liverpool 2
West Brom: Livermore (79'), Rondón (88' )
Liverpool: Ings (4'), Salah (72')
The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
COMPANY%20PROFILE
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A list of the animal rescue organisations in the UAE
Looking for a new family pet? Here are the links to visit when it comes to adopting...
Arabian Saluki Center of Dubai (Ascod)
Emirates Animal Welfare Society
Rescue Animals in Need United Arab Emirates
Sniff - Strays Needing Interim of Furever Friends
PARA UAE - Protection of Animal Rights Association
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Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Brief scores:
Juventus 3
Dybala 6', Bonucci 17', Ronaldo 63'
Frosinone 0
The%20specs
COMPANY%20PROFILE%20
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
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- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
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COMPANY%20PROFILE
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Company%20Profile
The specs
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
Earth under attack: Cosmic impacts throughout history
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- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
Company%20profile
COMPANY PROFILE
If you go
The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295