Only 2 years after buying the premium brand of Jaguar Land Rover, the Tata Group, has announced that the brands can’t survive without government assistance. The Indian based conglomerate is calling on the UK Government for a £500m loan to battle the economic climate; a somewhat far cry from their original request for £1bn over two years.However, the request does not appear empty of threat. Tata has strongly maintained that “if funds are not available, a company will not be able to run. So layoffs will take place, redundancies will take place or in some cases, as has already happened in the UK, not with us, plants have been closed.”
The message is clear: Jaguar Land Rover will not be able to continue without government cash.
To date, Jaguar Land Rover has cut 1,800 jobs from its 15,000 workforce and has also agreed with unions a one year pay freeze albeit in return for assurances that there will be no compulsory redundancies.
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