Corus slashes output, Jaguar jobs
The downturn in demands in various sectors due to the global economic gloom have forced the Corus to cut production while job losses were announced at Jaguar and Land Rover factories. Vijay Dutt reports.business Updated: Oct 17, 2008 22:40 IST
The downturn in demands in various sectors due to the global economic gloom have forced the Tata-owned steelmaker Corus to cut production while job losses were announced at Jaguar and Land Rover factories.
The cut, by 20 per cent, said the management was due to drops in demand from its main customers in the automotive, construction and engineering sectors.
It will reduce output at its main sites of Port Talbot, Scunthorpe, Teesside and Rotherham in the UK, until the end of the year, when it will review output. But the company said no job cuts are planned among its workforces.
Meanwhile, Jaguar and Land Rover company said in a statement that the move to cut 200 jobs of 16,000 was an efficiency drive rather than a response to the poor car market. Although Jaguar has experienced a slight sales bounce with its new XF model, the Land Rover division has suffered a significant sales slide of 49 per cent last month compared with September last year.
Jaguar Land Rover's factories are also working only four days a week or are facing production cuts.