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EXCLUSIVE: Pay delay for Jaguar workers
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02/07/2009
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Works Management has learned that bosses at Jaguar Landrover have written to all employees asking them to accept a delayed payment date for salaries from this month. Rather than the usual pay day of 15th, the company wants to push payments to the end of the month to ease its ongoing cashflow problems.
The request went by email to all salaried staff earlier this week. The news was accompanied by an offer of a £200 one-off payment to everyone who agrees to the revised payment date.
WM understands that Jaguar Landrover recently negotiated extended payment terms with its suppliers, moving them from 45-day to 60-day terms – but the 15-day extension now means that supplier payments clash with salaries.
Jaguar Landrover spokesman Don Hume confirmed the news, saying that the organisation needed to "realign its pay structure". He added that the move will be phased: salaries will be paid one week later in July, moving to the end of the month from August.
Earlier this week, parent company Tata Motors reported that Jaguar Landrover made a £280m loss for the 10 months to March 2009, following its acquisition from Ford.
Despite the government's announcement of its Automotive Assistance Programme four months ago, Jaguar Landrover is still thrashing out terms for financial assistance with UK government officials.
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Author
Laura Cork
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