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Jaguar Land Rover announced plans to cut 4,000 jobs over two years as part of a drive to save £1.7 billion ($2.3 billion), citing pressure from Chinese competition, a recent cyberattack, and U.S. tariffs. The luxury automaker, owned by Tata Motors, said the restructuring is aimed at stabilizing its finances amid a challenging global environment. The cuts add to a wave of restructuring across the auto sector as manufacturers grapple with rising costs, trade barriers, and intensifying competition from Chinese EV makers.
Sources:CNBC Top News