Business News | JLR Confirms Reducing Global Workforce by Around 4,000 Roles over Next Two Years
Get latest articles and stories on Business at LatestLY. Jaguar Land Rover (JLR), a wholly owned subsidiary of Tata Motors Passenger Vehicles Limited, on Monday announced that it will reduce its global workforce by around 4,000 roles over the next two years as part of a strategic transformation programme aimed at simplifying the organisation and improving operational performance.
New Delhi [India], September 7 (ANI): Jaguar Land Rover (JLR), a wholly owned subsidiary of Tata Motors Passenger Vehicles Limited, on Monday announced that it will reduce its global workforce by around 4,000 roles over the next two years as part of a strategic transformation programme aimed at simplifying the organisation and improving operational performance.
According to an official statement by Jaguar Land Rover Automotive PLC, the programme is designed to support the company's long-term sustainable growth amid increasingly competitive and rapidly changing markets and continuing geopolitical uncertainty.
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Under its “Growth Reimagined” strategy, announced at its Investor Day on June 19, JLR is targeting approximately £1.7 billion in savings over the next two years.
The company said these savings are aimed at reducing its break-even point towards 300,000 units and strengthening its ability to deliver sustainable profitable growth.
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As part of the transformation programme, JLR will reduce organisational complexity while continuing to invest in areas considered important for its future growth.
The company plans to invest between £15-18 billion over the next 5 years in electrification, digital technologies, advanced manufacturing and enhanced customer experiences.
JLR said “JLR will reduce its global workforce by around 4,000 roles over the next two years. The reduction, which is not expected to impact direct manufacturing jobs, will be achieved through voluntary means wherever possible”.
The company is beginning consultation on the first round of reductions and said it will provide support to colleagues affected by the changes.
It will also engage with trade unions and employee representatives throughout the transition.
The transformation programme comes as JLR seeks to simplify its organisation, improve operational performance and create a stronger base for sustainable growth.
The company said the planned savings and reduction in organisational complexity will support its longer-term investment programme while helping it respond to changing market conditions and geopolitical uncertainty.
JLR's “Growth Reimagined” strategy forms the broader framework for these measures, with the company targeting approximately £1.7 billion of savings over the next two years, while maintaining its planned investment of £15-18 billion over the next 5 years. (ANI)
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