Automobile company Jaguar Land Rover is likely to cut thousands of jobs next year as their turnaround strategy.
According to the media report, this move comes under the three- year cost-cutting program. The report said, In October, it outlined plans to deliver cost and cash flow improvements of 2.5 billion pounds ($3.15 billion) within 18 months.
“Jaguar Land Rover does not comment on rumors concerning any part of these plans,” a spokesman for the company said by email on Sunday, said the report.
It can be highlighted that the Tata Group has a massive presence with 19 firms in the UK across various businesses. It can be recalled that post the Brexit voting in 2016, the spokesperson of Tata Group had said, “Each company continuously reviews its strategy and operations in the light of developments, and will continue to do so. Access to markets and to a skilled workforce will remain important considerations.”
On the backdrop of Brexit, not only Tata Group but many Asian companies are on the verge of restructuring their workforce strategy. Companies such as Toyota, Hitachi, Samsung, Panasonic, Honda, TCS, Tech Mahindra, and Tata have a strong presence in the region. And it is now time they plan their future post Brexit.