NEW YORK TIMES
The Ford Motor Company bought Britain’s Jaguar in 1986 for $2.7 billion. It might be sorry it did. The luxury automaker is in a slump. Sales have fallen from 45,000 cars last year to well below 30,000 this year. Jaguar has even had to scrap some new models and stop development on others. Last week, union representatives were summoned by Ford to talk about layoffs. Rumours are that 1,400 workers will have to go. So far this year 2,500 Jaguar workers have been dismissed.