Jaguar Land Rover has confirmed that they are in the midst of talks with the British Government for £1bn of taxpayers money to secure the future of the company. The Prime Minister is apparently considering the proposal.

Over the last few months, Jaguar Land Rover have been offering a unique redundancy deal to their workers, and over 300 of their production line workers have taken them up on the offer and clocked off for the final time in 2008.

Although news on the situation is sparse on the matter, a spokesperson has commented that, “we are of course keeping government appraised of the impact on our business. Jaguar Land Rover supports both the UK and the European industry position that government intervention is required to improve liquidity in the supply chain and support continued investment in carbon reduction technology as well as stimulating consumer demand. The French, German, US, Australian and Chinese are all considering industry support packages.”

Those in the car industry are bound to suffer, as Uk production is down 25% on last year and the recent economic situation has impacted the auto trade. David Smith, chief executive of land Rover, has warned that widespread redundancies are a liklihood. Land Rover are looking to make a further 300 voluntary redundancies.

This entry was posted on Wednesday, December 3rd, 2008 at 10:00 am and is filed under land rover. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.