As someone living in Coventry and knowing many people, both family and friends, who are employed by Jaguar Land Rover, we are always on tenterhooks when hearing the latest news about what is happening to the Company. As we hold our breath, the latest news is that Jaguar Land Rover has secured a £175million loan from the State Bank of India to help it through the recession.
With the business losing £1million per day, you can understand why Tata, the owners, need to make radical, and sometimes controversial, plans for the future of the business.
The total of new funding Tata has secured is £500million, which not only shows confidence in the company, but has stabilised the company’s cash flow during this recession.
So for now, the loans are secure, let’s hope the future of Jaguar Land Rover is too. There may not be the phrase "jobs for life" anymore, but let's hope there's at least "jobs for now!"Ali, thebestof Coventry