This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/england/7828201.stm
The article has changed 7 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Jaguar Land Rover cuts 450 staff | Jaguar Land Rover cuts 450 staff |
| (20 minutes later) | |
| Jaguar Land Rover has announced it is cutting 450 jobs. | Jaguar Land Rover has announced it is cutting 450 jobs. |
| Three hundred managers will be made redundant while 150 salaried agency staff will also lose their jobs. | Three hundred managers will be made redundant while 150 salaried agency staff will also lose their jobs. |
| The firm, which was bought by Tata from Ford for £1.7bn last year, said the action was to combat the credit crunch and a "severe reduction in demand". | |
| The firm, based in Gaydon, Warwickshire, employs about 15,000 people at plants in Coventry, Solihull, Castle Bromwich and Halewood. | The firm, based in Gaydon, Warwickshire, employs about 15,000 people at plants in Coventry, Solihull, Castle Bromwich and Halewood. |
| Chief Executive David Smith said he did not expect sales to return to normal levels "for some time". | |
| 'More efficient' | |
| He said the firm needed to become more efficient so it could invest in new models and technology when the market improved. | |
| He added: "It is only right and proper that our response to the unavoidable impact of the credit crunch and a severe reduction in demand includes actions across all grades and functions in the company. | |
| "It is critical that Jaguar Land Rover becomes a more efficient and dynamic organisation to face up to the challenges that we will meet in the years ahead." | |
| The company said managers would not receive any bonuses in 2009 and management pay increases had been deferred until 1 October "at the earliest". | |
| It said it had begun consulting with unions on the proposed redundancy programme. | |
| Last November, the firm axed 850 agency IT and engineering staff and said it was in talks with the government over a possible bail out. | |
| Tata has also said it will inject tens of millions of pounds into the company. |