Jaguar Land Rover (JLR) has launched a voluntary redundancy programme for salaried and management employees as part of a plan to achieve £1.7 billion ($2.3 billion) in savings over the next two years.

The UK-based automotive manufacturer said it needs to adapt to changing market conditions, improve efficiency and reduce its break-even point to 300,000 vehicles annually. While JLR has not confirmed the number of roles affected, several media reports have suggested that up to 4,000 jobs could be impacted over the next two years. Production roles are not expected to be affected.

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