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

Titi Coles Legacy In Finance: Pioneering Diversity And Leadership

Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more

Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape

As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more

The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma

In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more

The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty

In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more

Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction

In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more

Central Banks And The Economic Horizon: Steering Through Uncertaintie

In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more