Breaking: Brexit Carnage, Jaguar Land Rover to cut 5000 UK Jobs

Dan72

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Brexit is cited as one of the reasons but this is not good for the UK economy.
The company has sounded some of the most urgent warnings among UK manufacturers about the damage that Brexit uncertainty was doing to investment in the UK.

In July last year, the company said it needed more certainty around Brexit in order to continue investing in its UK operations and warned that a "no-deal" Brexit would cost the company more than £1.2bn in profit each year.
 

Dan72

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The BRC said today that the British retail had its worst year in a decade saying political uncertainty, Brexit, and a weakening economy were some of the factors.
And just look at the political circus going on across the water right now.

No wonder, Ireland and the rest of the EU are looking in, in greater numbers and saying to the Brits, have your exit but we want no part of it.

The Brits are committing suicide, and no one is following them.
 

TheWexfordInn

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Land Rover are paying the price for deciding to focus on diesel engined vehicles which are now looking to have as much of a future as the Betamax Video Recorder.
Same reason that VolksWagen has recently had large job losses for them similarly backing this losing horse.
 

Dan72

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Land Rover are paying the price for deciding to focus on diesel engined vehicles which are now looking to have as much of a future as the Betamax Video Recorder.
Same reason that VolksWagen has recently had large job losses for them similarly backing this losing horse.
But Brexit is part to blame.

It's not the only reason but it is part of the picture.

Just like the horrid BRC report on British retail this morning.
 

Dublin 4

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JLR is also one of the most heavily-exposed car makers to ongoing consumer confusion about the wisdom of buying a diesel car in the aftermath of the VW emissions scandal.

Ninety per cent of its vehicles are diesel-powered, although it has been investing in new electric and hybrid vehicles.

Today's job losses come on top of cuts made last year.

China is the company's biggest and hitherto most profitable market. But sales in China have fallen nearly 50% in recent months as cautious Chinese consumers have been holding back on big ticket purchases amid global trade tensions.

The relationship between JLR and its Chinese sales network have also been strained as dealers demand better terms and promotional incentives.

Pfft...
 

Dan72

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For those with head in the sand.

In July last year, the company said it needed more certainty around Brexit in order to continue investing in its UK operations and warned that a "no-deal" Brexit would cost the company more than £1.2bn in profit each year
 

Dublin 4

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Small Beer from last year, China & Diesel did the Damage...
 

missy

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For those with head in the sand.

In July last year, the company said it needed more certainty around Brexit in order to continue investing in its UK operations and warned that a "no-deal" Brexit would cost the company more than £1.2bn in profit each year
You do realise that every mismanaged company is going to be blaming Brexit for their incompetence ?
 

Dan72

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You do realise that every mismanaged company is going to be blaming Brexit for their incompetence ?
That's not true.

Many companies are not performing well for a myriad of reasons and are not citing Brexit.
 
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