According to the report published in Sunday times on Jul 12, the company that employs about 15,000 people has never taken a drastic step like this before.
The company has however, taken measures like extending the Christmas holidays to two weeks, introducing a four-day work week and sacking around 2,000 temporary employees.
In June 2009, Tata Motors that owns the British carmaker revealed the $522 million loss, and had warned of rigorous cost cutting.
The company that is seeking a loan from the European Investment Bank (EIB) is right now busy persuading the Britain government to provide guarantee.
Recently, the company released latest version of the Jaguar XJ and hopes that when the car hits the markets it will give good results.