You are using an older browser version. Please use a supported version for the best MSN experience.

Lotus Plans to Cut 325 Jobs

Motor Trend logo Motor Trend 9/18/2014 Kelly Pleskot

In a proposed restructuring plan, Lotus will cut up to 325 jobs worldwide, the company said in a statement today.

2013 Lotus Evora S© Provided by MotorTrend 2013 Lotus Evora S

The cuts represent about a quarter of its global workforce. Lotus is currently speaking with its staff and will redeploy workers to other areas in an effort to minimize job losses. Still, the company said it had no choice but to go forth with the cuts.

Research

“We have worked very hard to avoid the need to make the proposal, but do believe that it is now essential," Lotus CEO Jean-Marc Gales said. The statement continued, "Once the reshaping has been undertaken, and with its strong and experienced management team, Lotus should be a leaner, more competitive organization."

"We deeply regret the potential impact any reshaping of the business may have on our employees and their families," the statement also said.

Lotus has long struggled with debt as it tries to compete with bigger companies. The Lotus Evora became the company's only vehicle sold in North America. The company's main market is Europe, but even there, Lotus has only sold a few hundred cars so far this year.

Lotus was effectively sold by the Malaysian government in 2012 and its owner was later sold to DRB-Hicom. Gales took the helm at Lotus in May and had formerly worked with PSA/Peugeot-Citroen as well as Daimler, General Motors, and Volkswagen.

Source: Lotus

AdChoices
AdChoices

More from Motor Trend

Loading...

image beaconimage beaconimage beacon