Leading automotive company Tata Motors Ltd is expecting a lose of 1,100 temporary jobs at the Jaguar Land Rover since the company is cost cutting. This measure is likely to be taken in order to the battle the disruptions caused by the spread of the novel coronavirus.
The company’s spokesperson said that they are beginning to review and will consider exiting those who do not add any strategic value as part of an effort to save Rupees 6,000 crore in the financial year, 2021. They are hence anticipating the job loss of 1,100 employees.
The company is set to save 5 billion pounds by 2021 at its Jaguar Land Rover. Its Indian Chief Financial Officer PB Balaji said that 3.5 billion pounds of savings is achieved at present.
"Conserving cash and prioritising capital expenditure, and targeting investment spending to the right areas is our focus," Balaji said.
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