Tatas to cut 5,000 jobs at Corus, JLR

Posted By: Staff
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London, Jan 26: A report in Sunday Times newspaper suggest that Tatas are planning to cut as many as 5,000 jobs at their steel and auto subsidiaries in the United Kingdom the Corus and Jaguar Land Rover. Reports suggest that 3,500 of Corus employees and another 1,500 working for Jaguar Land Rover is expected to loose their job. Corus, one of the largest steelmaker layying off employees is a big blow to the faltering manufacturing sector.

Tata groups' Tata Steel tookover Anglo-Dutch steel maker Corus for about 6.7 billion pounds ($12 billion) in 2007. While Tata Motors snapped up luxury car maker jaguar Land Rover in 2008 for more than $2 billion from US auto major Ford. Reports suggest that UK government is expected to come up with assistance to boost the country's car industry, which is hit by the ongoing recession.

The Sunday Times reported that the union leaders are in last round talks with the company officials to ward off impending job cuts. The job cuts are part of Corus management's plan to introduce changes gradually. But the plan has been accelerated by the crisis in the world steel industry.

OneIndia News (With inputs from Agencies)

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