The Tatas-owned Jaguar Land Rover plans an extended shut down of its UK plants and a new round of staff layoffs as it struggles to cope up with the slump in the world car market, a media report said on Sunday.
"Executives at Jaguar Land Rover, the Midlands carmaker, are drawing up plans for an extended shutdown of its UK plants and a new round of staff layoffs," UK daily 'The Sunday Times' reported on its online edition on Sunday.
Preparation for the closures comes just days after the company released its new flagship, the latest version of the Jaguar XJ beloved by Prime Ministers and top British executives, the report said.
The car was launched at a glitzy party in London’s Saatchi Gallery on Thursday, to critical acclaim.
Jaguar Land Rover, which employs some 15,000 people in the UK, has so far avoided the lengthy shutdowns that some other carmakers have used to save money and run down stock. Honda, for example, closed its plant at Swindon for three months.
Last month Tata Motors stated that mounting losses at the UK carmaker had pushed it into its first annual loss of 522 million dollars (322 million pounds) in seven years, and warned drastic cost-cutting should be expected. It said sales at its British subsidiary had fallen by a third.