Tata confirms closing of Jaguar or Land Rover plant
It sounds drastic, but the pain of closing a plant and shedding underutilized capacity - about 40 percent of JLR's production overhead is going unused - could head off outright failure. Production has been pulled back already, while jobs have been cut and wages frozen, so word of the closing is just more bad news, but Jaguar Land Rover CEO David Smith is committed to taking "decisive actions" to see the storied marques through. The union, of course, is unhappy, and a meeting will be going forward between the company and GMB officials to determine what actions might be taken on both sides.
[Source: Automotive News - Sub. Req. | Image Source: Paul Ellis/AFP/Getty]
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