Jaguar Land Rover cutting 450 jobs and suspend bonuses

Posted on Thursday, 15 January 2009 , 05:01:04 byEmil

Filed under jaguarlandrovercutjobbonuseconomyjlrJaguarLand RoverTata Motors

Jaguar Land Rover cutting 450 jobs and suspend bonuses

Apparently all are rosy now for Jaguar in Detroit at the Auto Show 2009 – having the British carmaker revealing new quality-performance XKR and XFR units – but now Tata-owned, the Jaguar Land Rover group will face some serious problems, with more job cuts rising in the near future.

Jaguar Land Rover just announced it will be a 450 cut jobs; the reason being down global economy and collapsing sales. JLR will eliminate around 15 % of the managers – meaning 3 hundred positions – plus another 150 employees cut from the global workforce. So, JLR employs globally around 15,000 workers, reported Reuters. Jaguar therefor eliminated in 2008 approx 1,400 jobs.

So additionally, the managers will no longer receive 2009 bonuses, having pay raises stopped until October 1st at least.

“Overall, the global auto market is considerably down, particularly in markets like the United States and the UK, and it’s basically because customers cannot raise credit to buy new cars,” a spokesman for Jaguar Land Rover reported to Reuters.

More cuts are kinda obvious as David Smith - JLR Chief Executive does not “expect sales conditions to return to normal levels for some time”.