Jaguar owner's £267m loss
THE Indian owner of Jaguar Land Rover has recorded losses of £267m in the year to March 31 due to global downturn in the car industry.
The losses at Tata Motors, which bought the company from Ford for £1.5bn in June last year, compared with a £388m profit the previous year.
Tata has cut around 2,000 staff at Jaguar Land Rover so far leaving it with 15,000 workers, but hinted at further cost-cutting moves to come.
JLR was profitable in the first half of the year before succumbing to the downturn.
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