Automotive News Europe/Reuters, 26th June, 2009
MUMBAI (Reuters) – India’s Tata Motors may consider more job cuts and plant shutdowns for the Jaguar and Land Rover unit, a top official said on Friday.
“There has already been 2,000 job losses. We may be looking at more job losses, more plant shutdowns,” Vice Chairman Ravi Kant told a news conference, adding it would depend on how the market situation evolved.
Earlier, Tata Motors reported a consolidated net loss for the year ended March 2009 of 25.05 billion rupees ($520 million) versus net profit of 21.68 billion rupees a year ago.
The Jaguar and Land Rover unit made a loss before tax of 281 million pounds ($463 million) in the 10 months of the 2008/09 fiscal year that they were on the books of India’s Tata Motors, Chief Financial Officer C. Ramakrishnan told a media conference on Friday.
[Source: Automotive News Europe/Reuters]
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