Tata Motors’ JLR said to plan to large-scale job cuts
Live MintBangkok/London: Jaguar Land Rover will announce plans early next year to cut thousands of jobs as part of a turnaround strategy, the Financial Times reported, citing several unidentified people close to the company. The UK luxury carmaker, owned by India’s Tata Motors Ltd, will outline the measures in January as part of a three-year cost-cutting program, the report said. S&P Global Ratings cut Tata Motors’ long-term rating deeper into junk on Tuesday, the second downgrade in five months, citing headwinds for JLR in some key markets, including China. chief executive officer Ralf Speth warned Prime Minister Theresa May in September that a bad Brexit deal could put tens of thousands of jobs at risk and cost the company more than £1.2 billion a year.