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| Friday, 13 December, 2002, 19:36 GMT Land Rover to cut workforce ![]() Land Rover: looking for a way through tough times Land Rover, owned by US car maker Ford, is planning to cut about 1,000 jobs at its factory at Solihull in Birmingham over the next year. "We plan over the next 12 months progressively to reduce the hourly paid headcount (at Solihull) by about 12%," a spokeswoman for Land Rover told BBC News Online. However, the firm expects to meet its target to reduce the current 8,200-strong workforce at Solihull without compulsory redundancies. "We'd expect the majority (of the cuts) to be by natural wastage. If we find it that it isn't, we may introduce a small voluntary redundancy programme," she said. Global shake-up The spokeswoman said talks were taking place with the trade unions and no final decisions had been taken about the number of jobs to go. The firm has informed the workforce of its 12% target and "somebody's done the maths", she said. Ford, in common with the rest of the car industry, has undertaken extensive restructuring in the last couple of years. Ford made a loss of $5.45bn (�3.43bn) last year. It has since launched an ambitious turnaround plan and replaced its chief executive. However, motor industry analysts remain cautious about how far the restructuring is succeeding. Ford's European operations made a loss of $121m in the July, August, September period, compared up with a loss of $24m year earlier. In October Ford's share price hit a 10-year low, after investment bank CSFB slashed its target price for the shares, citing the weakness of the US economy. The Solihull factory is the UK's only plant making Land Rover vehicles and produces all four models. | See also: 04 Dec 02 | Business 25 Nov 02 | Business 04 Nov 02 | Business 01 Nov 02 | Business 11 Oct 02 | Business 09 Aug 02 | Business 21 Mar 02 | Business Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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