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Thoughts on Jaguar Land Rover job losses

I think it's a real blow to the UK Manufacturing industry as a whole and I hope those affected are able to find jobs elsewhere quickly.

https://www.bbc.co.uk/news/business-46822706

Jaguar Land Rover (JLR) has confirmed it is cutting 4,500 jobs, with the substantial majority coming from its 40,000 strong UK workforce.

Most will be in office roles as the company wants to simplify its management structure. The cuts come on top of last year's 1,500 job losses.

JLR is facing several challenges, including a slump in demand for diesel cars and a sales slowdown in China.

The firm has also complained about uncertainty caused by Brexit.
(edited 5 years ago)

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Reply 1
Avatar for Doones
Doones
21
Original post by Themysticalegg
I think it's a real blow to the UK Manufacturing industry as a whole and I hope those affected are able to find jobs elsewhere quickly.

https://www.bbc.co.uk/news/business-46822706

Jaguar Land Rover (JLR) has confirmed it is cutting 4,500 jobs, with the substantial majority coming from its 40,000 strong UK workforce.

Most will be in office roles as the company wants to simplify its management structure. The cuts come on top of last year's 1,500 job losses.

JLR is facing several challenges, including a slump in demand for diesel cars and a sales slowdown in China.

The firm has also complained about uncertainty caused by Brexit.


What's not clear is how this will affect their apprenticeship, internship and graduate recruitment programs - presumably significantly.
Original post by Doonesbury
What's not clear is how this will affect their apprenticeship, internship and graduate recruitment programs - presumably significantly.


What is clear is that while they are cutting jobs in our country they are proactively hiring in others; which can only be attributed to Brexit.

This is yet another reason why this farce of a situation that we've got ourselves in should be stopped. What I find most ironic, is that the same people who voted for brexit will lose their jobs as a result of this. It's a matter of time before Nissan at Sunderland start making valid excuses for why they need to cut jobs, and it'll serve the 60%+ of people who voted leave in that constituancy right as they lose their jobs. You don't s*** on your own doorstep and get away with it.
Blaming Brexit for their own failings, good riddens.
Original post by Doonesbury
What's not clear is how this will affect their apprenticeship, internship and graduate recruitment programs - presumably significantly.


they havent allowed any apprenticeship applications this year from what i know
Original post by DrMikeHuntHertz
Blaming Brexit for their own failings, good riddens.


Failings? As in their profits rising year on year? Interesting.
Reply 6
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Doones
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Original post by DrMikeHuntHertz
good riddens.


So you are happy a major employer is laying staff off? Nice.

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Original post by Doonesbury
So you are happy a major employer is laying staff off? Nice.

Posted from TSR Mobile


Yep, and I can't wait for John Lewis and all the other remain supporting corporates to join them, traitors.
Its being heavily portrayed as scaremongering by the pro-EU lot thats for sure.

Is it really a surprise that with a switch to electric vehicles occurring, shortages and price hikes causing reduced diesel sales (JLR's are mainly diesel) and poor relations regarding steel importation from China that a diesel car company is struggling?

Sounds like they're doing the right thing and trying to cushion the factory workers blow by mainly laying off the admin/marketing staff but the attempts to blame brexit for their failings as a business to diversify and keep up with competition is a little weak.
Considering JLR is owned by Tata, an Indian company (shock we can do business with Non-EU countries) I doubt brexit makes any difference to their trade whatsoever.
Reply 9
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Doones
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Original post by DrMikeHuntHertz
Yep, and I can't wait for John Lewis and all the other remain supporting corporates to join them, traitors.


Marvelous. Edit: and their UK-based supply chain too (they will take a bigger hit than the primary companies).

Is James Dyson going to return all his manufacturing to the UK? Or Bamford?

Will that be enough to make up the difference (JCB is a quarter the size of JLR)?
(edited 5 years ago)
Original post by DrMikeHuntHertz
Yep, and I can't wait for John Lewis and all the other remain supporting corporates to join them, traitors.


We can tell from your countless posts on TSR that you are a naive teenager trying so very very hard to be edgy.

But when you finally mature you'll realise that mass job losses have a huge impact on individuals, families, and communities. And then you'll stop making idiotic comments.
Original post by DrMikeHuntHertz
Yep, and I can't wait for John Lewis and all the other remain supporting corporates to join them, traitors.

John Lewis is the very definition of 'not a corporate'.
Reply 12
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DJKL
17
Original post by DrMikeHuntHertz
Blaming Brexit for their own failings, good riddens.


Good riddance.
Original post by imlikeahermit
Failings? As in their profits rising year on year? Interesting.

Rising year on year? As in making less money than the year before for the last 3 financial years? FY15 was the last time their profits went up. They've been going down year on year ever since. Their profits for FY18 were almost half that of FY15.

In fact, I believe sales for CY18 were down 4.6% compared to CY17 for JLR (IIRC Jaguar saw a 1.2% rise, but the company as a whole was down 4.6%), and they reported a £90M pre-tax loss back in October.
(edited 5 years ago)
90% of their manufacturing in the UK is diesel cars.

Can anyone think of a recent scandal that might have led to the collapse of demand for diesel cars?


SS
Original post by Violet Femme
We can tell from your countless posts on TSR that you are a naive teenager trying so very very hard to be edgy.

But when you finally mature you'll realise that mass job losses have a huge impact on individuals, families, and communities. And then you'll stop making idiotic comments.

Perhaps they should have thought about that before working for traitors.
Original post by DrMikeHuntHertz
Yep, and I can't wait for John Lewis and all the other remain supporting corporates to join them, traitors.

Jaguar Land Rover and John Lewis are both British companies.

Sounds like you're the traitor here...
Reply 17
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DJKL
17
Original post by TheMcSame
Rising year on year? As in making less money than the year before for the last 3 financial years? FY15 was the last time their profits went up. They've been going down year on year ever since. Their profits for FY18 were almost half that of FY15.

In fact, I believe sales for CY18 were down 4.6% compared to CY17 for JLR (IIRC Jaguar saw a 1.2% rise, but the company as a whole was down 4.6%), and they reported a £90M pre-tax loss back in October.


Not sure I would read them that way, at a group level there are some fairly chunky pension valuation adjustments, amortisation/impairment adjustments and very high exchange swings that frankly I would ignore as noise, page 104 has, ignoring the RB adjustments and currency /exchange adjustments;


2018 1,133
2017 1,272
2016 1,312

But after the RB adjustments and currency hedges and other comprehensive income we have:
2018 3,551
2017 (883)
2016 1,724

or we could have EBITDA as disclosed;

2018 2,797
2017 2,942
2016 3,147

What I would read from all of the above is whilst possibly not growing the underlying has actually been relatively static, but short of spending 3-4 hours wading through the accounts I doubt I would conclude much beyond this, at the end of the day Group Sales have marginally improved and I do not see the drastic issues you appear to be stating:

Year ended 31 March 2018 £m 2017 £m 2016 £m
Sale of goods 27,175 25,659 22,208
Realised revenue hedges (1,389) (1,320) 78
Total revenue 25,786 24,339 22,286

Note 5

http://annualreport2018.jaguarlandrover.com/assets/files/jlr-financial-statements.pdf
Original post by SHallowvale
Jaguar Land Rover and John Lewis are both British companies.

Fifth columnists*
Original post by DrMikeHuntHertz
Fifth columnists*

How, exactly?

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