Group Lotus Plc may cut its 1,215-strong workforce by 27 percent to slash costs. This means that the carmaker may permanently send home up to 325 employees when it starts its restructuring. The carmaker said that compulsory job reductions might be needed.
Lotus chief executive Jean-Marc Gales said in a statement that the carmaker has worked hard to avoid the need to make the job reduction proposal, but it now believes that such move is essential.
He remarked that once the job cuts are implemented, Lotus should be a “leaner, more competitive organization” that focuses on both building class-leading sports cars and innovative engineering.
Unlike other sports-car makers like Porsche, Lamborghini and Ferrari, Lotus is not under any global auto group – which means the company would have difficulty getting needed technology or even financial support to develop such technology. [source: Bloomberg.com]