New photo Jaguar Land Rover set to cut 5,000 jobs and temporary contracts at Solihull plant in the New Year as part of £2.5bn savings plan

UP to 5,000 jobs are set to be cut at Jaguar Land Rover in the New Year as part of a £2.5billion savings plan.

The firm, Britain’s biggest car maker, has already cut 1,000 temporary contract workers at its Solihull plant, which builds Range Rovers and Land Rover Discoveries.

Getty Images - Getty

In an attempt to turn around its fortunes Jaguar Land Rover announced plans in October to save £2.5bn, including £1bn of cost cuts[/caption]

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It has also reduced working hours for some staff at its Wolverhampton factory in the run-up to Christmas.

The decision comes amid falling sales, a drop in demand for diesel cars and fears over Brexit.

The company, owned by Indian multinational Tata, announced a £354million half-year pre-tax loss in October.

Analyst Robin Zhu said: “It’s do or die. JLR has been mismanaged.”

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News Pictures Jaguar Land Rover set to cut 5,000 jobs and temporary contracts at Solihull plant in the New Year as part of £2.5bn savings plan

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