Summary
Lotus, a sportscar manufacturer, is cutting 550 jobs at its UK headquarters in Norfolk. The company says these changes are needed to adapt to the current market conditions and maintain its business in the evolving automotive industry. Despite the job cuts, Lotus states it remains committed to its UK operations.
Key Facts
- Lotus is cutting 550 jobs at its headquarters in Hethel, Norfolk, UK.
- The company had denied plans to close its UK factory or open a new one in the USA.
- The decision to cut jobs comes after a review of its business objectives.
- Lotus cites rapid changes in global policies and tariffs as reasons for job cuts.
- The company remains committed to keeping its UK sports car and engineering operations.
- Lotus is exploring growth opportunities, including partnering with third parties for manufacturing.
- South Norfolk Council plans to support the affected employees and work with the government.
- Lotus was founded in the 1950s and moved to its current location in the 1960s.
