Jaguar Land Rover’s North American arm is conserving cash by suspending co-op advertising for at least 90 days. It’s also putting roughly 150 employees — 40 percent of its U.S. work force — on paid leave for a month.
“In light of a partial suspension of our U.S. business operations and a continued decline in revenue, the company has placed a number of employees whose positions are significantly impacted by COVID-19-related circumstances on paid leave for one month, effective May 1, during which their pay and health care benefits will be maintained in full,” Jaguar Land Rover said in a statement emailed to Automotive News.
The company’s senior leadership in the U.K., including CEO Ralf Speth, has taken pay cuts as the automaker grinds through the stay-at-home orders that have closed plants, tech centers and dealerships.
“In coordination with our Retailer Cabinet, we have temporarily suspended the co-op advertising program for April-June to minimize advertising expenses during…