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  • William Maley
    William Maley

    By William Maley •

    Rumorpile: Jaguar Land Rover May Slash 5,000 Jobs

      A triple whammy of various issues

    This past year hasn't been good for Jaguar Land Rover. A triple whammy of sales dropping in China, demand for diesel vehicles falling, and the looming threat of Brexit has seen the company report a 90 million pound (about $113,550,300) loss in the third-quarter. S&P Global Ratings recently cut their long-term rating into JLR's parent company, Tata Motors into Junk Status.

    Because of this, Jaguar Land Rover will be detailing a three-year cost-cutting plan next month. Tata announced the plan back in October that would save 2.5 billion pounds (about $3.2 billion) within the first 18 months. There would be job cuts, but Tata did not say how many. The Financial Times reported this week that JLR is planning to cut 5,000 of its 40,000 workforce in the U.K.- this according to sources.

    “It’s do or die at the moment,” Robin Zhu, an analyst from Bernstein said.

    “JLR has been seriously mismanaged in recent years, with cost runaways, products disappointing in the market, and hedging issues costing it billions."

    “Jaguar Land Rover notes media speculation about the potential impact of its ongoing charge and accelerate transformation programmes. As announced when we published our second-quarter results, these programmes aim to deliver £2.5bn of cost, cash and profit improvements over the next two years. Jaguar Land Rover does not comment on rumours concerning any part of these plans,” JLR said in a statement to The Guardian.

    Other parts of the plan are said to include a reduction in models and selling off various assets. But Evercore ISI, an investment advisory frim said JLR needs to do more than cut costs.

    "The company needs to consider whether it’s spreading itself too wide and whether competing with the Germans in the tough premium sedan segment is a viable strategy," it wrote in a note to investors this week.

    Source: Financial Times (Subscription Required) via The Guardian, Automotive News (Subscription Required)

    Edited by William Maley

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    smk4565

    I thought 2 years ago Brexit was a terrible idea.  I don’t understand how separating yourself from the EU is better for business than being in the EU. This is like the tariff war we are in, that doesn’t help businesses.  

    I think the next recession could knock out another 5-10 auto brands globally and these guys along with a couple of FCA’s are at the top of the list.

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    A Horse With No Name
    10 minutes ago, smk4565 said:

    I thought 2 years ago Brexit was a terrible idea.  I don’t understand how separating yourself from the EU is better for business than being in the EU. This is like the tariff war we are in, that doesn’t help businesses.  

    I think the next recession could knock out another 5-10 auto brands globally and these guys along with a couple of FCA’s are at the top of the list.

    Agree completely.

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    A Horse With No Name
    1 hour ago, riviera74 said:

    Tata will have a lot of decisions to make in the next year or so.  Will either Jaguar or Land Rover be shut down, and if so, how soon?

    Probably neither shut down....but neither of them will be healthy either.

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    Suaviloquent

    Jaguar can have 2 sporty models in the F Type and XE, but all the rest gotta be high tech and luxo first. And reliable.

     

    Jaguar has a loss in one quarter...worst auto company ever.... basically

     

    Tesla has a loss...oh they're still winning and continuing to make themselves great again, OMG model Y, Model Truck, Model Roadster, such billions in losses to develop those, such greatness.

     

    ?

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    ocnblu

    First off, nations need to be able to govern themselves.  They need to guard their sovereignty.  Secondly, if they die before they go electric, they can still salvage some fond memories of enthusiasts.

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    Robert Hall
    Just now, oldshurst442 said:

    So...is it jag-YOU-ah or jagwar? 

    If they could finally solve that mystery, maybe they could start selling some cars!

     

    Or is it jag-WIRE?   That's how I've heard it pronounced sometimes in regards to the Jacksonville Jaguars NFL team..

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    ocnblu

    Well, people mispronounce the name of my town (the oldest inland city in the US) often if they don't live here.  I've always said "JAGWAHR", but the Brits (and it is their car) say it differently.  I think the Brits say it properly because it is their car.

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    Robert Hall

    I’ve heard my county (and the river) pronounced a couple ways... Cuyahoga... Q-uh-hoga or Kai-ah-Hoga.  

    So Lan-Caster or Lank-aster?  I’d go with the 2nd..  Ohio has a Lancaster, not sure how it’s pronounced.  Ohio has a Louisville—pronounced Lewis-vil, but my cousins in Kentucky pronounce their city Luh-a-Vul.  

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    oldshurst442

    Louisville...

    I sometimes pronounce it louie-vil or, because I speak French, I will  sometimes read it in French.  Something like louie-vil, but the louie part is louieee and the vil part is more pronounced, more Frenchie.  Ville is city in French, so I will read ville as I would like Im speaking...French. 

    And yes..."JAGWAHR"  is the way I say it too.  What do the Brits know about how to speak the English language anyhow...?

    I hear Lang-caster from time to time. 

    I think I pronounce it as Lank-aster myself.

     

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    balthazar

    OH NOZ! AND RITE BEFUR X-MAS! HOW HEARTLESS!! HOW GREEDY!! THEY SHOULD KEEP THE FACTORIES RUNNING AND BUILDING, AND JUST STORE THE UNWANTED VEHICLES IN STADIUM PARKING LOTS, OFFERING THEM UP AS SLEEPING BERTHS FOR THE HOMELESS!! BECAUSE; CORPORATE MONSTERS!!!!!!!!!!!!!!!

    Edited by balthazar
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    A Horse With No Name
    8 hours ago, balthazar said:

    OH NOZ! AND RITE BEFUR X-MAS! HOW HEARTLESS!! HOW GREEDY!! THEY SHOULD KEEP THE FACTORIES RUNNING AND BUILDING, AND JUST STORE THE UNWANTED VEHICLES IN STADIUM PARKING LOTS, OFFERING THEM UP AS SLEEPING BERTHS FOR THE HOMELESS!! BECAUSE; CORPORATE MONSTERS!!!!!!!!!!!!!!!

    On the other hand without money nothing happens. Cutting slower selling vehicles ensures health of company which is the greater good.

    The real question is how do you create economic diversity? Columbus Ohio here will be devastated if anything ever happens to the insurance industry.

    Don't know about sleeping berths for the homeless but Kia does build a small hatchback called the Soul thst seems uniqely fit for rodents.

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