Jaguar axes 300 jobs, stop X-Type production
15 Jul 2009
Iconic British carmaker Jaguar and Land Rover (JLR) has axed 300 workers at its Merseyside plant, will cease production of its Jaguar X-Type car by the end of the year and introduce a three-week shutdown of its plants in the UK.
The luxury carmaker has been haemorrhaging under declining sales; its retail sales had fallen by 28 per cent in the past 10 month.
Moreover, the refusal of banks in the UK resume commercial lending after their commercial debacle last year have hurt JLR's ability to continue with its day-to-day operations.
As a result, after having made 2,200 jobs redundant in the recent past, it axed another 300 jobs at Merseyside today from the plant's work force of 2,000.
The company employs approximately 14,500 in the UK.
It said that the job cuts would be through voluntary redundancy.
In addition to the job cuts, the company also plans to cease production of the X-Type or the ''baby Jag'' by the end of the year.