FIRST AIRED: January 10, 2019

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Transcript

00:00:01
>> A double-digit drop in demand in China and a dip in diesel sales across Europe the triggers for Jaguar Land Rover, Britain's biggest carmaker, to cut thousands of UK jobs. A source told Reuters that management, research, sales and design posts would be affected but not production, at least not yet.
00:00:19
>> Whatever the terms of the announcement, we will do everything that we can to make sure that they can find jobs that make use of their really valuable skills.>> The news follows a tough 2018 for JLR, which employs 40,000 people in the UK. The carmaker lost around $450 million between April and September, and has already cut a thousand rolls.
00:00:45
Brexit too could impact the firm's three UK plants. It spent millions preparing for new tariffs and customs checks likely under a no-deal Brexit scenario come March.
SOUND] J
R is not the only automaker experiencing a bumpy ride in Europe. US giant Ford says it's cutting thousands of jobs, quoting unprofitable markets in France and Russia, and ending production of loss-making vehicles.
00:01:10
The move is aimed at achieving a 6% operating margin in Europe, where the firm employs 53,000 people, but has struggled to turn a profit recently. Last year, it made a $282 million loss in the third quarter.