Jaguar will continue to lose money for the next two to three years, according to company boss Joe Greenwell. The British car maker may not break even until 2007, even though it will close its Coventry plant next year with the loss of over 1100 jobs.
But Jaguar is under considerable political pressure after the unions succeeded in getting British Prime Minister Tony Blair to take an interest in the case.
The trade unions seem determined to try to reverse the decision to shut the factory, despite Jaguar’s precarious financial state. Speaking before a committee of MPs, union bosses are claiming that something near 2000 jobs are under threat, as is the future of the Whitley technical centre, something Jaguar denies.