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Posts Tagged ‘Brexit news’

Ford Laying Off 1,000 Workers in Great Britain

Brigend Engine Plant loses half of its workers.

by Joseph Szczesny on Jan.15, 2019

Ford is cutting 1,000 jobs at the Brigend Engine Plant in Wales.

Ford of Europe is poised to eliminate more than 1,050 jobs at the Brigend Engine Plant in Wales, according to the British union representing representing them.

The company confirmed last week that it was poised to eliminate hundreds of jobs across its operations in both Great Britain and on the European continent. The Brigend plant currently employs 2,100 meaning the impending cuts would eliminate roughly 50% of the plant’s workforce.

Business News!

Ford is in the midst of a broad restructuring of its operations worldwide with analysts estimating the total number of job cuts could top 15,000 or more. (more…)

Jaguar Land Rover Cutting 4,500 Jobs in Europe

Brexit, dying diesel sales and slow sales in China driving cuts.

by Joseph Szczesny on Jan.11, 2019

Jaguar Land Rover CEO Ralf Speth said the company was facing struggles due to Brexit and other industry issues around the globe.

Jaguar Land Rover is preparing to eliminate about 4,500 jobs worldwide as it responds to the decline of demand for diesels, the slowdown in the sales of new vehicles in China and the drag on sales created by Great Britain’s withdrawal from the European Union, known as Brexit.

While Jaguar Land Rover enjoyed a good year in the U.S. with sales rising 7%, the company, which is the United Kingdom’s largest automaker representing roughly 10% the company’s workforce, is implementing a plan to reduce costs by $3.2 billion.

Global News!

The effort was announced last year as part of a series of moves toboost cash flow through 2020. JLR already eliminated 1,500 jobs in 2018, the company said Thursday in a statement. (more…)

Brexit Woes Starting to Impact Automakers

Companies warning of job losses in the UK.

by Joseph Szczesny on Oct.01, 2018

Toyota Plant Director Marvin Cooke told the BBC that the plant could close if a "no-plan" Brexit takes place. (Photo credit: BBC)

With the United States finally resolving the trade agreement with Mexico and Canada, the Brexit saga automatically elevates to the level of grave importance for automakers.

Manufacturers have warned for months that Brexit, Great Britain’s withdrawal from the European Union approved by UK voters two years ago, holds devastating consequences from automakers. Carmakers with factories in Britain are already paying more for parts because of the devaluation of the British pound.

Global News!

Toyota Motor Corp. is now threatening manufacturing jobs in the UK. The company could be forced to halt production at its Midlands U.K. factory in the event Britain leaves the European Union without a deal, the plant’s managing director, Marvin Cooke, told the BBC over the weekend. (more…)

Ghosn Putting Great Britain Investments on Hold

Nissan Renault Chief awaits Brexit outcome.

by Joseph Szczesny on Aug.08, 2016

Nissan Renault CEO Carlos Ghosn is putting the company's investments in Great Britain on hold pending Brexit negotiations.

The top executive at Nissan Renault, Carlos Ghosn, has warned that decisions on the company’s future investments in Great Britain are on hold pending the outcome of the United Kingdom “Brexit” negotiations regarding future market access to the countries within the European Union.

Ghosn, however, told the BBC that he was “reasonably confident” that the company will not have to shut down its plant in Great Britain even though the factory in Sunderland now exports most of production to Europe and North America.

Financial News!

But like other major companies, Renault-Nissan is now waiting to find out exactly what “Brexit” means and what kind of trading relationship the UK will have with the rest of Europe when negotiations are complete. (more…)