Bentley To Cut About 1,000 Jobs In UK Amid Coronavirus Outbreak: Reports

Luxury carmaker Bentley is cutting about 1,000 jobs in the United Kingdom amid the ongoing outbreak, the BBC reported late on Thursday.

The cuts at the Volkswagen-owned brand are expected to be announced on Friday, according to the report.

The carmaker is likely to offer workers the chance to take voluntary redundancy, the report added.

Bentley, founded in the UK in 1919, has restarted production at its northern English Crewe factory, where it builds thousands of luxury models. However, the shutdown of its UK production due to the virus outbreak has hurt the company.

Earlier on Thursday, , another luxury carmaker, said it planned to shed 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels.

Volkswagen and Bentley did not immediately respond to a Reuters request for comment late on Thursday.

RECENT NEWS

HSBC Swings The Axe At UK Wealth In An AI Push

HSBC is preparing deep job cuts across its UK wealth management arm. It plans to cut about half of its management and sp... Read more

Kraken's Owner Buys A Bank: The Lines Are Blurring

Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more

Revoluts Australian Banking Licence Game Changer

Revolut has spent much of its life insisting that it is more than a bank. In Australia, it has now decided that becoming... Read more

The AI Bank Is Coming, But Who Controls The Risk?

Artificial intelligence is no longer something banks discuss as a distant possibility. It is already working behind the ... Read more

ClearBank UK Profit Leads To European Growth

ClearBank has spent much of the past decade building the technology and regulatory infrastructure needed to challenge so... Read more

Bank Of London Continues To Rebuild

ClearBank’s progress shows that modern clearing and banking infrastructure can become a sizeable and profitable busine... Read more