Company owned by billionaire Jim Ratcliffe says it is simplifying its head office to improve efficiency
The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company’s global workforce as his heavily indebted empire comes under increasing pressure.
Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed “several hundred” head office staff across multiple locations, including the UK and parts of Europe.
The company owned by Ratcliffe, who also co-owns Manchester United, said the “strategic measures to structure its business” would help to simplify its head office and improve efficiency.
The Guardian understands that the cuts are unlikely to affect the company’s automotive plant in Hambach, France, which is building the Ineos Grenadier, an off-road vehicle that pays homage to the discontinued Land Rover Defender.
