London, Jan 14 (DPA) Ailing British luxury carmaker Jaguar Land Rover is to axe 450 jobs, including those of 300 managers, as part of a cost-cutting scheme following a 'severe reduction' in demand for new cars, the company said Wednesday.
The firm, which was bought by India's Tata group for 1.7 billion pounds ($2.5 billion) last year, employs a staff of 15,000 at plants in Britain.
'We don't expect sales conditions to return to normal levels for some time,' chief executive David Smith said.
'It is critical that Jaguar Land Rover becomes a more efficient and dynamic organisation to face up to the challenges that we will meet in the years ahead,' he added.
Jaguar Land Rover had been among top carmakers urging the British government to provide financial aid to the car industry.
Prime Minister Gordon Brown's spokesman said Wednesday the government was 'disappointed' at the announcement.
Last week, carmaker Nissan said it would cut 1,200 jobs at its giant plant in Solihull, northeast Britain.
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