00:00Jaguar Land Rover is planning to cut around 4,000 jobs worldwide over the next two years.
00:05The British luxury automaker says the move is part of a major cost-cutting strategy.
00:11JLR is targeting savings of about £1.7 billion, or roughly $2.3 billion.
00:17The company also wants to lower the number of vehicles it needs to break even.
00:22JLR currently employs about 40,000 people globally, including around 30,000 in the UK.
00:28The planned reductions are expected to focus largely on salaried and management positions.
00:33The company is facing tough competition, changing demand and pressure across the global auto industry.
00:39Despite the cuts, JLR says it is not abandoning its long-term growth plans.
00:44The automaker plans to invest up to £18 billion over the next five years.
00:49That investment will support electrification, digital technology, and advanced manufacturing.
00:55JLR also plans to launch five new products during the next 12 months.
01:00The company says the changes are designed to improve efficiency and competitiveness.
01:04UK officials are also preparing to discuss the job reductions directly with JLR leadership.
01:10The restructuring marks a major challenge for one of Britain's best-known carmakers.
01:15Disclosure.
01:15This video contains stock footage and content created or enhanced using AI-assisted tools.
