Lotus could lose 350 jobs

Posted on 1 Oct 2014 by Victoria Fitzgerald

Car manufacturer, Lotus has announced that up to 350 jobs could be lost as a result of a restructuring programme.

The Norfolk-based firm, which manufacturers the Elise, Evora and Exige sports-cars, could lose roughly 25% of its staff as a result of an initiative to create a “strong sustainable future”.

The company is a wholly owned subsidiary of Malaysian group DRB-Hicom and has recently begun a 45-day consultation process.

Chief executive Jean-Marc Gales said in an email statement: “We have worked very hard to avoid the need to make the proposal, but do believe that it is now essential.

“Lotus should be a leaner, more competitive organisation, focusing on both producing class-leading sports cars and innovative engineering.

“The harsh truth is that if Lotus is to prosper in the long-term it must do even better, at lower cost.”