It seems despite improving sales, British luxury car maker Jaguar Land Rover is planning to cut up to 450 jobs from its global workforce of around 15,000 employees.
The company blames this decision on a severe fall in demand coupled with the current global economic climate and is planning to seek Government support in order to guarantee its viability.
According to Reuters, the UK government is "disappointed" with this decision, sparking further job losses on home soil under the new ownership of India's Tata Motors.
"Overall, the global auto market is considerably down, particularly in markets like the United States and the UK, and it's basically because customers cannot raise credit to buy new cars," a Jaguar Land Rover spokesman said.
This figure accounts for about 15 per cent or 300 of its management workforce, with a further 150 salaried agency staff to all lose their jobs.
The company also reduced its workforce late last year by seeking some 500 voluntary redundancies and shedding around 850 agency support staff.
In addition to this, managers who avoid the job cuts will not receive bonuses in 2009 and scheduled pay increases have been delayed until October 1 this year at the earliest.