JLR suppliers with 'days of cash' left
Summary
Jaguar Land Rover (JLR) experienced a cyber attack affecting its supply chain, with some suppliers having only a week of cash left. These suppliers have not received payments from JLR since the end of August, causing financial strain. The government is considering measures to support suppliers until JLR resumes full operations.Key Facts
- Around 100,000 workers in JLR's supply chain are affected by the cyber attack.
- Some suppliers have only seven to ten days of cash remaining.
- Payments from JLR to some suppliers have stopped since the end of August.
- JLR employs about 30,000 people directly and impacts an additional 100,000 in the supply chain.
- JLR has started a phased restart of its IT systems.
- The government may buy parts from suppliers to keep them going until production resumes.
- Suppliers are concerned about maintaining their workforce and cash flow.
- The government is also considering paying upfront for future orders to help suppliers.
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