Jaguar Land Rover: 5000 jobs on the chopping block

Jaguar Land Rover (JLR) will next year slash up to 5000 jobs as part of its turnaround plan, according to new reporting from the UK. According to the Financial Times, the brand will announce a £2.5 billion ($4.3 billion) turnaround plan to deal with falling demand. Ralf Speth, Jaguar Land Rover CEO, announced a cost-cutting plan after posting a £90 million loss in the third quarter of 2018, but declined to provide specifics.