Job cut, staff relocation: India Inc gears for Brexit as UK set to leave EU

Analysts said the lower utilisation of its UK plant due to Brexit would lead to higher production cost for each unit and squeezing its margins

Indian companies which have a significant presence in the United Kingdom are preparing for Britain’s exit from the European Union on Friday by cutting jobs and relocating plants and staff. CEOs said they had time till December to finalise strategy for minimising supply chain disruption and sales. Britain plans to complete negotiations for a new trade deal with the EU by December.

Among the biggest, Tata Motors-owned Jaguar Land Rover (JLR) has announced it would cut 500 jobs from the UK operations due to Brexit. The company manufactures 77 per cent of its global shipments in the UK and has