Jaguar Land Rover Reportedly Plans to Cut 4,000 Jobs Over Two Years

According to Sina Finance, Jaguar Land Rover plans to cut 4,000 jobs over the next two years because of soaring costs, plunging sales, and the impact of U.S. tariffs. The company told employees on Friday evening that it will announce the layoff plan on Monday. Jaguar Land Rover said it is launching a voluntary redundancy program aimed at saving about 1.7 billion pounds over two years. The company said it wants to lower its break-even point to 300,000 vehicles and streamline operations to cope with the global market environment, but it did not mention a specific number of planned layoffs. The automaker, which is part of Tata Motors, has about 33,000 employees in the U.K. Its revenue fell nearly 10% in the latest quarter, while pretax profit dropped 69% to 109 million pounds.