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Found 10 results

  1. More bad news has hit Nissan. The automaker is planning to cut as many as many as 700 workers from their Canton, Mississippi plant - home to the Frontier, Titan, NV Van, Altima, and Murano. Lloryn Love-Carter, a Nissan spokeswoman told Bloomberg that Nissan will be eliminating one shift of Titan and Frontier, along with cutting a shift of the NV Van line. "All direct employees will retain their jobs and only contract workers will be dismissed, she said by phone." "When you look at where the market demand is and where we are seeing sales for the next year, particularly on NV and on Titan, we are just trying to make sure our production is aligned. We feel with the single-shift pattern on vans and the two-shift pattern on the trucks that we can satisfy the market demand," said Nissan spokesman Brian Brockman to Automotive News. Brockman couldn't say how much capacity would be lost by the shift cuts. The plant has a max capacity of 450,000 vehicles. While sales of the Frontier have been going up (79,646 sold last year, up 7.1 percent), the Titan has been struggling. In 2018, sales dropped 4.7 percent to 50,459. Source: Automotive News (Subscription Required), Bloomberg View full article
  2. More bad news has hit Nissan. The automaker is planning to cut as many as many as 700 workers from their Canton, Mississippi plant - home to the Frontier, Titan, NV Van, Altima, and Murano. Lloryn Love-Carter, a Nissan spokeswoman told Bloomberg that Nissan will be eliminating one shift of Titan and Frontier, along with cutting a shift of the NV Van line. "All direct employees will retain their jobs and only contract workers will be dismissed, she said by phone." "When you look at where the market demand is and where we are seeing sales for the next year, particularly on NV and on Titan, we are just trying to make sure our production is aligned. We feel with the single-shift pattern on vans and the two-shift pattern on the trucks that we can satisfy the market demand," said Nissan spokesman Brian Brockman to Automotive News. Brockman couldn't say how much capacity would be lost by the shift cuts. The plant has a max capacity of 450,000 vehicles. While sales of the Frontier have been going up (79,646 sold last year, up 7.1 percent), the Titan has been struggling. In 2018, sales dropped 4.7 percent to 50,459. Source: Automotive News (Subscription Required), Bloomberg
  3. Ford wasn't the only automaker to announce cuts this week. On Thursday, Jaguar Land Rover announced they would cutting 10 percent of their global workforce (4,500 jobs) as part of a 2.5 billion pound (about $3.2 billion) effort to reduce costs and improve cash flow through 2020. As we reported last month, JLR got hit with a triple whammy of bad news; declining sales in China, falling demand for diesel vehicles, and the looming threat of Brexit. The company reported that retail sales fell 4.6 percent in 2018, mostly due to the uncertainty surrounding Brexit. That pales in comparison to the 22 percent drop in sales seen in the Chinese market - due mostly in part to the trade war. JLR CEO Dr. Ralph Speth said the cuts were a response to “multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry.” The company said the cuts will focus on those in design, engineering, supervisory, and senior management. No cuts are expected to hit those in production. Source: Bloomberg, Jaguar Land Rover JAGUAR LAND ROVER IMPLEMENTS NEXT PHASE OF TRANSFORMATION PROGRAMME Jaguar Land Rover, the UK’s largest vehicle manufacturer, today outlined the next phase of ‘Charge and Accelerate’, the company’s ongoing transformation programme to deliver £2.5bn in cost reductions and cashflow improvements over 18 months as well as long-term strategic operating efficiencies. Next phase of major transformation plan to lay foundations for long-term sustainable profitable growth Creation of leaner, more resilient organisation; reducing global workforce by around 4,500 people. This is in addition to 1,500 people who left the business in 2018 Further investment into electrification with Electric Drive Units to be produced at Wolverhampton Engine Manufacturing Centre and new Battery Assembly Centre to be established at Hams Hall, North Warwickshire CEO Prof. Dr. Ralf Speth: “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 Jaguar Land Rover, the UK’s largest vehicle manufacturer, today outlined the next phase of ‘Charge and Accelerate’, the company’s ongoing transformation programme to deliver £2.5bn in cost reductions and cashflow improvements over 18 months as well as long-term strategic operating efficiencies. Jaguar Land Rover is expanding a business-wide organisation review aimed at reducing the size of its global workforce by around 4,500 people. This is in addition to the 1,500 who left the company during 2018. The next phase of this transformation programme will begin with a voluntary redundancy programme in the UK. This strategic review will create a leaner, more resilient organisation with a flatter management structure. We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry. The ‘Charge and Accelerate’ programme combines efficiency measures with targeted investment, safeguarding our future and ensuring that we maximise the opportunities created by growing demand for Autonomous, Connected, Electric and Shared technologies. PROF. DR. RALF SPETH CHIEF EXECUTIVE OFFICER OF JAGUAR LAND ROVER So far, the ‘Charge and Accelerate’ programme has identified over £1bn of improvements, with more than £500mn already realised in 2018. The savings and improvements achieved will enable Jaguar Land Rover to fund vital investments into technology to safeguard its future. These investments include today’s announcement that, from later this year, next-generation Electric Drive Units (EDU) will be produced at the company’s Engine Manufacturing Centre in Wolverhampton. These EDUs will be powered by batteries assembled at a new Jaguar Land Rover Battery Assembly Centre located at Hams Hall, North Warwickshire, reinforcing the company’s commitment to the West Midlands and the UK. The Battery Assembly Centre will be one of the largest of its kind in the UK, using new production techniques and technologies to manufacture battery packs for future Jaguar and Land Rover vehicles. The latest investments and the transformation measures aim to build on unprecedented growth achieved by Jaguar Land Rover over the past decade, enabling the company to launch today’s range of award-winning Jaguar and Land Rover vehicles. In the last year alone, the company’s global product portfolio has expanded to include the all-electric Jaguar I-PACE, the Range Rover and Range Rover Sport with PHEV derivatives and, most recently, the new Range Rover Evoque, also with next-generation hybrid technology. In 2018, the company continued its global expansion with the opening of its latest vehicle manufacturing plant in Slovakia as well as investment into specialist engineering hubs in the Republic of Ireland, Hungary and Manchester, UK. In the same year, Jaguar Land Rover also confirmed plans to invest in its Solihull plant to support the introduction of the next generation Range Rover and Range Rover Sport. The next chapter in the story of the Jaguar and Land Rover brands will be the most exciting - and challenging - in our history. Revealing the iconic Defender, investing in cleaner, smarter, more desirable cars and electrifying our facilities to manufacture a future range of British-built electric vehicles will all form part of building a globally competitive and flourishing company. PROF. DR. RALF SPETH CHIEF EXECUTIVE OFFICER OF JAGUAR LAND ROVER View full article
  4. Ford wasn't the only automaker to announce cuts this week. On Thursday, Jaguar Land Rover announced they would cutting 10 percent of their global workforce (4,500 jobs) as part of a 2.5 billion pound (about $3.2 billion) effort to reduce costs and improve cash flow through 2020. As we reported last month, JLR got hit with a triple whammy of bad news; declining sales in China, falling demand for diesel vehicles, and the looming threat of Brexit. The company reported that retail sales fell 4.6 percent in 2018, mostly due to the uncertainty surrounding Brexit. That pales in comparison to the 22 percent drop in sales seen in the Chinese market - due mostly in part to the trade war. JLR CEO Dr. Ralph Speth said the cuts were a response to “multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry.” The company said the cuts will focus on those in design, engineering, supervisory, and senior management. No cuts are expected to hit those in production. Source: Bloomberg, Jaguar Land Rover JAGUAR LAND ROVER IMPLEMENTS NEXT PHASE OF TRANSFORMATION PROGRAMME Jaguar Land Rover, the UK’s largest vehicle manufacturer, today outlined the next phase of ‘Charge and Accelerate’, the company’s ongoing transformation programme to deliver £2.5bn in cost reductions and cashflow improvements over 18 months as well as long-term strategic operating efficiencies. Next phase of major transformation plan to lay foundations for long-term sustainable profitable growth Creation of leaner, more resilient organisation; reducing global workforce by around 4,500 people. This is in addition to 1,500 people who left the business in 2018 Further investment into electrification with Electric Drive Units to be produced at Wolverhampton Engine Manufacturing Centre and new Battery Assembly Centre to be established at Hams Hall, North Warwickshire CEO Prof. Dr. Ralf Speth: “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 Jaguar Land Rover, the UK’s largest vehicle manufacturer, today outlined the next phase of ‘Charge and Accelerate’, the company’s ongoing transformation programme to deliver £2.5bn in cost reductions and cashflow improvements over 18 months as well as long-term strategic operating efficiencies. Jaguar Land Rover is expanding a business-wide organisation review aimed at reducing the size of its global workforce by around 4,500 people. This is in addition to the 1,500 who left the company during 2018. The next phase of this transformation programme will begin with a voluntary redundancy programme in the UK. This strategic review will create a leaner, more resilient organisation with a flatter management structure. We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry. The ‘Charge and Accelerate’ programme combines efficiency measures with targeted investment, safeguarding our future and ensuring that we maximise the opportunities created by growing demand for Autonomous, Connected, Electric and Shared technologies. PROF. DR. RALF SPETH CHIEF EXECUTIVE OFFICER OF JAGUAR LAND ROVER So far, the ‘Charge and Accelerate’ programme has identified over £1bn of improvements, with more than £500mn already realised in 2018. The savings and improvements achieved will enable Jaguar Land Rover to fund vital investments into technology to safeguard its future. These investments include today’s announcement that, from later this year, next-generation Electric Drive Units (EDU) will be produced at the company’s Engine Manufacturing Centre in Wolverhampton. These EDUs will be powered by batteries assembled at a new Jaguar Land Rover Battery Assembly Centre located at Hams Hall, North Warwickshire, reinforcing the company’s commitment to the West Midlands and the UK. The Battery Assembly Centre will be one of the largest of its kind in the UK, using new production techniques and technologies to manufacture battery packs for future Jaguar and Land Rover vehicles. The latest investments and the transformation measures aim to build on unprecedented growth achieved by Jaguar Land Rover over the past decade, enabling the company to launch today’s range of award-winning Jaguar and Land Rover vehicles. In the last year alone, the company’s global product portfolio has expanded to include the all-electric Jaguar I-PACE, the Range Rover and Range Rover Sport with PHEV derivatives and, most recently, the new Range Rover Evoque, also with next-generation hybrid technology. In 2018, the company continued its global expansion with the opening of its latest vehicle manufacturing plant in Slovakia as well as investment into specialist engineering hubs in the Republic of Ireland, Hungary and Manchester, UK. In the same year, Jaguar Land Rover also confirmed plans to invest in its Solihull plant to support the introduction of the next generation Range Rover and Range Rover Sport. The next chapter in the story of the Jaguar and Land Rover brands will be the most exciting - and challenging - in our history. Revealing the iconic Defender, investing in cleaner, smarter, more desirable cars and electrifying our facilities to manufacture a future range of British-built electric vehicles will all form part of building a globally competitive and flourishing company. PROF. DR. RALF SPETH CHIEF EXECUTIVE OFFICER OF JAGUAR LAND ROVER
  5. The holidays are proving to be a tough time for those who work in the automotive industry. Last week, General Motors announced that it would be cutting more than 10,000 jobs and removing products from five plants beginning next year. This could pale into comparison with what could happen with Ford. Earlier this week, Morgan Stanley analyst Adam Jonas sent out a note to investors saying that Ford's $11 billion restructuring effort could see 25,000 jobs being cut. “We estimate a large portion of Ford’s restructuring actions will be focused on Ford Europe, a business we currently value at negative $7 billion. But we also expect a significant restructuring effort in North America, involving significant numbers of both salaried and hourly UAW and CAW workers,” Jonas wrote. Ford's 70,000 salaried employees have been told that job cuts are coming, but an official figure hasn't been revealed. “These actions will come largely outside of North America. All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation,” said Ford spokeswoman Karen Hampton to Bloomberg. But Ford CEO Jim Hackett has made things slightly worse. Yesterday, Hackett told reporters "Ford didn’t provide numbers to Morgan Stanley analyst Adam Jonas." Basically a non-denial denial. The company is planning an interim announcement about its workforce later this week. Source: Bloomberg, 2
  6. The holidays are proving to be a tough time for those who work in the automotive industry. Last week, General Motors announced that it would be cutting more than 10,000 jobs and removing products from five plants beginning next year. This could pale into comparison with what could happen with Ford. Earlier this week, Morgan Stanley analyst Adam Jonas sent out a note to investors saying that Ford's $11 billion restructuring effort could see 25,000 jobs being cut. “We estimate a large portion of Ford’s restructuring actions will be focused on Ford Europe, a business we currently value at negative $7 billion. But we also expect a significant restructuring effort in North America, involving significant numbers of both salaried and hourly UAW and CAW workers,” Jonas wrote. Ford's 70,000 salaried employees have been told that job cuts are coming, but an official figure hasn't been revealed. “These actions will come largely outside of North America. All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation,” said Ford spokeswoman Karen Hampton to Bloomberg. But Ford CEO Jim Hackett has made things slightly worse. Yesterday, Hackett told reporters "Ford didn’t provide numbers to Morgan Stanley analyst Adam Jonas." Basically a non-denial denial. The company is planning an interim announcement about its workforce later this week. Source: Bloomberg, 2 View full article
  7. Jaguar Land Rover is making some cuts to their work staff. Today, the British automaker announced that it would not renew the contracts of 1,000 agency workers at its Solihull factory in the United Kingdom. According to Autocar, JLR is holding meetings with workers to discuss the changes. In a statement, JLR said the decision is due “continuing headwinds” that have forced the company to make "adjustments to production schedules and the number of agency staff”. Those “continuing headwinds” are due to regulatory crackdown on diesel engines and higher taxes being placed on these models. This confirms news late last week about the automaker making cuts to their workforce. JLR also announced that it would be moving 360 workers from the Castle Bromwich to Solihull due to declining car sales. Bromwich is where the company produces most of Jaguar's lineup (F-Type, XE, XF, and XJ). Sales of diesel vehicles have been hit hard due to the Volkswagen diesel emission scandal. Jaguar Land Rover has been hit the hardest in their home country of the United Kingdom. 90 percent of Jaguar Land Rover models sold in the country are diesels, compared to 45 percent globally. According to industry association SMMT, Land Rover saw sales decline 20 percent to 23,815 through March. Jaguar posted a larger 26 percent decline to 9.709. JLR is trying to change that as they get ready to launch the I-Pace EV later this year, and plans on introducing electrified variants of all of their models by 2020. Source: Automotive News (Subscription Required), Autocar View full article
  8. Jaguar Land Rover is making some cuts to their work staff. Today, the British automaker announced that it would not renew the contracts of 1,000 agency workers at its Solihull factory in the United Kingdom. According to Autocar, JLR is holding meetings with workers to discuss the changes. In a statement, JLR said the decision is due “continuing headwinds” that have forced the company to make "adjustments to production schedules and the number of agency staff”. Those “continuing headwinds” are due to regulatory crackdown on diesel engines and higher taxes being placed on these models. This confirms news late last week about the automaker making cuts to their workforce. JLR also announced that it would be moving 360 workers from the Castle Bromwich to Solihull due to declining car sales. Bromwich is where the company produces most of Jaguar's lineup (F-Type, XE, XF, and XJ). Sales of diesel vehicles have been hit hard due to the Volkswagen diesel emission scandal. Jaguar Land Rover has been hit the hardest in their home country of the United Kingdom. 90 percent of Jaguar Land Rover models sold in the country are diesels, compared to 45 percent globally. According to industry association SMMT, Land Rover saw sales decline 20 percent to 23,815 through March. Jaguar posted a larger 26 percent decline to 9.709. JLR is trying to change that as they get ready to launch the I-Pace EV later this year, and plans on introducing electrified variants of all of their models by 2020. Source: Automotive News (Subscription Required), Autocar
  9. A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required)
  10. A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required) View full article

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