Jaguar Land Rover suppliers 'face bankruptcy' due to cyber attack crisis
Summary
A cyber attack has disrupted Jaguar Land Rover's operations, leading to factory shutdowns and financial losses. This situation also threatens the stability of JLR's suppliers, many of whom are small businesses at risk of bankruptcy without government support. Efforts are ongoing to restore the company's systems and minimize damage.Key Facts
- A cyber attack affected Jaguar Land Rover (JLR) starting on September 1, causing the company to halt operations.
- JLR's factories in the UK and other countries have been closed, impacting vehicle production.
- JLR has lost between £50 million and £100 million due to the shutdowns.
- The company made a pre-tax profit of £2.5 billion last year, giving it some financial cushion.
- Suppliers, many of them small businesses, are facing severe disruptions and potential bankruptcies.
- There is a call for government intervention to prevent large-scale job losses in the supply chain.
- Experts estimate the daily cost to JLR from the crisis is between £5 million and £10 million.
- JLR is working with the National Cyber Security Centre to investigate and address the cyber attack.
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