George S. May Business Blog

Tata Motors reports losses, possible job cuts – Hey Jaguar thanks for nothing.

Jaguar is currently facing a pre-tax loss of ₤281 million and as a result Tata Motors has said it is likely that job cuts will be coming. The carmaker went as far as to say that he option of shutting down under performing plants is also a definite possibility. Jaguar Land Rover has already cut 2,000 employees and has a current staff of 14,500 employees. The company is attempting to secure jobs by winning guarantees from the UK Government on a £340m European Investment Bank loan. However, the negotiations have been lengthy, with the state demanding strict terms for any financial support.

Globally sales of Land Rover fell by 35 percent last year. This is the first time in eight years that Tata Motors has reported a loss thanks to its huge losses due to its acquisition of JLR.

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