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Jim Ratcliffe to cut hundreds of jobs at 4x4 carmaker
Yahoo Finance· 2025-11-13 16:02
Core Insights - Ineos Automotive is cutting several hundred jobs at its head office due to declining sales and pressures on the broader Ineos industrials group [1][2][5] - The company reported a 23% decrease in sales of its vehicles, the Grenadier and Quartermaster, compared to 2024 [3] - Ineos Automotive is transitioning from an engineering phase to a market-focused automotive business, emphasizing core manufacturing and commercial activities [5][6] Company Strategy - The job cuts are part of a strategic reorganization aimed at improving efficiency and responsiveness, with a focus on frontline operations [6][7] - A new headquarters for the Americas will be established in New Jersey, despite the job reductions [7] Production Challenges - Ineos Automotive faced a four-month production halt starting in September 2024 due to supplier issues, which impacted operations at its factory in Hambach, France [8] - The company restarted production in January but encountered US tariffs affecting its luxury vehicles shortly thereafter [8]