Summary
A cyber-attack forced Jaguar Land Rover (JLR) to pause its operations, delaying benefits to its supply chain. JLR plans to restart some production soon, but the disruption has already led to financial struggles for many suppliers. The UK government has offered a £1.5 billion loan guarantee to support JLR and its supply chain during this period.
Key Facts
- A cyber-attack caused Jaguar Land Rover to stop its operations temporarily.
- JLR intends to resume production gradually, starting with its engine plant.
- The UK government is backing a £1.5 billion loan guarantee to help JLR's suppliers.
- A survey indicated that some businesses in the JLR supply chain have already reduced staff or adjusted contracts.
- JLR's supply chain includes about 30,000 employees, many of whom are affected.
- The loan guarantee aims to protect jobs and maintain advanced manufacturing capabilities in the UK.
- JLR suppliers are facing financial difficulties, with some employees reportedly being paid only 80% of their usual wages.
- The restart of production is seen as a crucial step to address the immediate challenges faced by both JLR and its supply chain.
