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Jan 14, 2009

Jaguar Land Rover to cut 450 jobs

Jaguar Land Rover is to cut 450 jobs as it seeks to cope with a severe downturn in the car market.

“We don’t expect sales conditions to return to normal levels for some time,” chief executive David Smith said.

The staff to lose their jobs comprise 300 managers and 150 agency staff.

Jaguar Land Rover, which was bought by the Indian conglomerate Tata last year, currently has about 15,000 workers.

News of the job cuts comes on the same day Barclays announced an additional 2,100 job cuts, having already announced the same number yesterday and DVD, CD and computer games retailer announced the closure of 18 stores with the loss of 353 jobs.

Source : ShareCast
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