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Tata Motors to cut 1,100 Jobs At Jaguar Land Rover

Bengaluru: Tata Motors expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak according to media reports.

 

Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved.

 

It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years.

 

"Conserving cash and prioritising capital expenditure, and targeting investment spending to the right areas is our focus," Mr Balaji told reporters, after the company posted a fourth quarter loss.

 

We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement.