Jaguar facing possible sale and job cuts

The auto industry limelight may not be shining on Jaguar at the moment, but the Coventry-based carmaker is still in major financial trouble. Its recent C-XF concept car managed to shift focus away from its loss making operations, but now the $715 million hole left in last year’s results has come back to bite the big cat hard.

British publication The Observer is reporting that Ford is considering major job cuts at Jaguar and is determined to increase profitability of its Premier Automotive Group (PAG). There’s even rumor that the sale of Jaguar and possibly Land Rover is still on the cards despite denials from Ford execs. Just last week, union officials sent a letter to Ford demanding information surrounding any possible sale.
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urbansouljah - 5/1/2007 10:58:46 AM

+3 Boost

Ford's new CEO said that Jaguar did not lose $715. That was just a rumor made by someone who claimed to have seen some document.