19:05
File image/Priyanshu Singh/Reuters
Tata Group's British luxury carmaker Jaguar Land Rover on Monday said it will reduce its global workforce by around 4,000 roles over the next two years.
The company, a subsidiary of Tata Motors Passenger Vehicles Ltd, said it is targeting approximately £1.7 billion in savings over the next two years to reduce its break-evens towards 300,000 units.
JLR currently employs 43,000 people globally.
The company, however, did not specify whether the proposed job cuts will have any impact on India operations.
In a statement, P B Balaji, JLR CEO, said, "The programme is open to our global salaried and management colleagues - this will impact predominately in the UK but there could be limited impact in our global locations".
He observed that the automotive industry faces significant challenges, with technological change amidst intense competition and ongoing geo-political uncertainty.
"Over the next 12 months, we will launch five new products, continue to leverage the strength of our brands and renew our focus on North America, amongst other markets, to help us deliver double digit revenue growth," the JLR CEO said. -- PTI
