Jaguar Land Rover loses $6.7 billion during financial year

Jaguar Land Rover has confirmed it lost £3.6 billion ($6.7 billion) in the financial year ending 31 March 2019. Around £3.3 billion ($6.2 billion) of that figure comes from the company writing down the value of its goodwill, real estate and facilities, as well as some of the costs related to slashing its worldwide workforce by 4500 people or around 10%. Taking extraordinary items out, the company had an operating loss of £358 million ($667 million) during the last financial year.