NEWS： JLR (TAMO. NS), owned by Tata Motors and headquartered
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JLR (TAMO. NS), owned by Tata Motors and headquartered in central Britain, said 4,500 jobs would be cut out of 42,500, while Ford said it would cut "thousands" of jobs as part of the restructuring of the company, which could lead to shutdown of factories and the suspension of production of some vehicles.
The Sino-US trade war and Britain's imminent departure from Europe have scattered the global market, forcing auto companies to reassess the profitability of their vehicles and regions.
In recent quarters, Jaguar Land Rover and Ford have lagged behind BMW, Volkswagen and Peugeot in terms of profits, and car managers are under increasing pressure from investors to stop losses.
"We will take decisive action to transform Ford's European business," Steven Armstrong, vice president of Ford's European, Middle East and African businesses, said in a statement Thursday.
Ford Europe, with 53,000 employees, has been losing money for years, and the pressure on Ford to restructure its business in Europe has increased since its main rival, General Motors (GM.N), sold its Opel and Vauxhall brands to French PSA (Peugeot Citroen) Group (PEUP.PA).
Jaguar Land Rover said demand in China fell 21.6% in 2018, the biggest drop in its major markets. China used to be one of the company's most powerful markets.
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