Carmaker, which is battling Trump tariffs and fallout from cyber-attack, wants to reduce 34,000-strong UK workforceBusiness live – latest updatesJaguar Land Rover has announced thousands of job cuts as it grapples with tough conditions in the car market, Donald Trump’s tariff wars and the fallout from a cyber-attack.Britain’s largest carmaker, which is owned by the Indian conglomerate Tata, on Monday confirmed the anticipated cuts, saying it wants to reduce its 34,000-strong UK workforce by about 4,000 over two years, as part of an effort to save £1.7bn. Continue reading...
Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad supportBusiness live – latest updatesThe chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany.Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives, approximately 150 pages and 45 individual resolutions” for change. Continue reading...
Peter Kyle did not dispute Times’ report that under a ‘reasonable worst-case scenario’ supermarkets might start running out of some itemsGood morning. ‘We don’t comment on leaks,’ is the usual government response to an unsanctioned lobby scoop. But this morning Peter Kyle, the business secretary, took a different response. Asked about a Times splash saying the government is making plans to deal with possible food shortages in the summer, caused by the Iran war, he told Sky News:It is difficult for me, because, of course, these leaks are very unhelpful. But when people do read it, they need to be reassured that we are doing this kind of planning, and we are doing this kind of scenario planning.Britain could face shortages of chicken, pork and other supermarket goods this summer if the war in Iran continues, a secret government analysis has found.Officials have drawn up contingency plans for a “reasonable worst-case scenario” amid fears that the closure of the Strait of Hormuz will lead to shortages of carbon dioxide (CO2) which is critical to the food industry …I can tell you, because I’m in these meetings, the prime minister has been there since the very start, and he is going through personally and driving deep dives into lots of areas of resilience throughout our economy.People should be reassured that we are doing this kind of action behind the scenes to keep resilience in our economy, so that when the full extent of what may or may not emerge, because this situation is still unfolding in the Middle East, you have a government that is acting with creativity and boldness.If any of these things change, I will be up front with the public about it in advance so that we can prepare. But right now, people should go on as they are, enjoying beer, enjoying their meats, enjoying all the salads.But also there are critical uses for CO2 – MRI scanning, for example, water purification; it’s involved in our nuclear industry, our civil nuclear power industry, some defensive uses for it as well. Continue reading...