Tata Says Jaguar Land Rover Needs ‘Major’ Cost Cuts
Jaguar Land Rover, the luxury unit Indian truckmaker Tata Motors Ltd. bought from Ford Motor Co. last year, needs “major cost reduction” as the global recession hammers demand for its vehicles.
Jaguar Land Rover plans to eliminate 300 jobs and end production of the Jaguar X-Type model sooner than planned as demand slumps, the automaker said July 15. The job reductions at a plant in Halewood, northwest England, are in addition to 2,200 cuts already made throughout the company since September.
Source: Bloomberg
