Jaguar Land Rover (JLR) has confirmed plans to cut 4,000 jobs over the next two years. Business Secretary Jonathan Reynolds stated that the government would not provide public money to support the car manufacturer.
JLR's cost-cutting measures are described as a programme to manage costs and achieve £1.7bn in annual savings. The company aims to return to selling 300,000 units, a level last seen in 2024, after a period of significant investment.
The job reductions are expected to primarily affect "salaried and management" positions. JLR's outlook in May's full-year results indicated resilience and plans for £18bn in investment spend over the five-year period from full year 2024.
The government's role is expected to focus on assisting with retraining and re-employment for affected workers, with talks with unions anticipated on Tuesday.