Jaguar Land Rover (JLR) announced on Wednesday that it would be cutting up to 500 jobs at its Halewood factory in the United Kingdom. The plant is located near Liverpool and employs roughly 4,000 people.
JRL said the redundancies were part of its £2.5 billion cost-cutting scheme aimed at securing investments in electric vehicles. The company is making preparations for possible Brexit-related disruptions.
United States President Donald Trump revealed on Wednesday that tariffs of 25% might be imposed on cars imported from the European Union, including the UK, if a trade agreement is not reached with the bloc.