Jaguar To Cut 1,150 Jobs At Headquarters - AP

[hatrack]

LONDON - "Luxury carmaker Jaguar said Friday it was stopping assembly work at its headquarters and cutting 1,150 jobs as a result of overproduction and poor sales in the key U.S. market.

The company said it was shedding 825 production jobs from its Browns Lane plant in Coventry, central England, which employs about 2,000 people. Some 425 of those jobs were being moved to another production facility, while 400 were being cut. The company also said it was cutting 750 office jobs across the group.

Jaguar announced the decision after executives from parent company Ford met with union officials.

"We have too much capacity and that is our underlying structural problem," Jaguar chief executive Joe Greenwell said. "Our bottom line has further deteriorated this year with the weakness of the dollar."

EDIT

http://www.kansas.com/mld/kansas/business/9689079.htm

Oh, and if you were wondering - Jaguar is owned by Ford.

[miss_kitty]

1. wow! with the way el presidente talks

almost everyone in this country should be driving a Jag. i am shocked! Shocked, I tell ya!

[The_Casual_Observer]

2. Jaguar is a beautiful car

However, the exchange rate must be killing them in the market.

[The Sushi Bandit]

3. FORD... not Jaguar is directing layoffs