Carmakers announce sweeping restructuring plans that will hit employees across Europe
- Latest: JLR cutting 4,500 jobs worldwide
- China slowdown and diesel crisis blamed
- Ford plans sweeping job cuts
Jaguar Land Rover boss Ralf Speth is holding a conference call with journalists now.
On it, he says:
There’s retail gloom on both sides of the Atlantic today.
US retail group Macy has sent shockwaves through Wall Street today by reporting weak sales over the Christmas holiday period, forcing it to cut its 2018 earnings outlook.
US retail getting taken out to the wood chipper
Abercrombie and Fitch -11%
JC Penney -5%