8:35 pm, January 14, 2009
JAGUAR Land Rover has announced it will be cutting 450 staff in the latest blow to the motor trade.
The BBC has reported 300 managers will be made redundant and 150 salaried agency workers will be axed.
JLR said the action was to combat the credit crunch and a severe reduction in demand.
Prime Minister Gordon Brown’s spokesman told the beeb that the government was disappointed.
‘Jaguar Land Rover’s decision today reflects the continued downturn in the market and that is a reflection of what is happening more generally in the global economy,’ he said.
Business Secretary Lord Mandelson confirmed the government was still looking into a possible rescue package for the car industry.
The cuts come as Jaguar unveils its fastest ever model – the XFR – at the Detroit Motor Show.
JLR has also said managers would not receive any bonuses in 2009 and management pay increases had been deferred until October.
