Bentley is cutting about 1,000 jobs, a quarter of its workforce at Crewe, due to a fall in sales for the 101 year old company.
It had increased sales last year by 5% to 11,000 models but the pandemic fallout hit them hard and now it’s preparing to offer voluntary redundancy to many before making redundancies.
Jaguar Land Rover has entered into agreements with lenders in China for a secured term loan facility of £558 Million for the Indian owned business, Arthur Yu, JLR’s vice president and China chief financial officer, said the Chinese banks that would provide it with the three-year revolving loan after it suffered steep losses as sales dried up in the pandemic crisis.
Aston Martin Lagonda has this week said it must cut 500 jobs at its Gaydon headquarters due to severe sales downturn but it’s pushing ahead with its new St Athan plant making the DBX SUV which employs about 300 people and the car hits the road this summer.