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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

Ineos to cut hundreds of jobs as carmaker struggles with debts

Jim Ratcliffe Ineos Belstaff Ineos Automotive
Jim Ratcliffe next to a car
Jim Ratcliffe has a net worth of £17bn, according to this year’s Sunday Times rich list. Photograph: Bloomberg/Getty

The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company’s global workforce as his heavily indebted empire comes under increasing pressure.

Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed “several hundred” head office staff across multiple locations, including the UK and parts of Europe.

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