Saturday, March 28, 2009

Ratan Tata seeks U.K. aid for Jaguar Land Rover


Jaguar Land Rover could make further job cuts unless the British government provides financial aid to the brands, Ratan Tata, chairman of Tata Motors, said today in a television interview.

Tata said Jaguar Land Rover needs £500 million ($734 million) in loan guarantees from the British government. "If funds are not available the company will not be able to run," he said. "So layoffs will take place."
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