Tata Motors denies JLR listing in London Stock Exchange
The famous Indian automobile manufacturer, Tata Motors has finally put a stop on all the speculations and rumors of the company listing its brand Jaguar and Land Rover in London. Finally the Indian giant has declared that the company has no plans to bring the JLR unit in London listing. It was being highly speculated recently that the company is planning to list its JLR unit in London which has been clearly given a red flag from the company officials.
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The fact was made evident from a spokesperson of Tata Motors, Debasis Ray who made an official statement where he straight away called the report a rumor and said that the company at present has no such plans listing its JLR unit in London. The news report under question on Thursday stated that the Tata Motors will list their Jaguar and Land Rover unit by the year 2012. The news was said to be coming from industry sources. The sources from bank stated that the process of this listing will take place in coming 12 months as the process of turnaround is still on.
The Indian major took over the British luxury brand, Jaguar and Land Rover in the year 2008 for $2.3 billion. Recently Tata Motors was heard to be soon hiring around 2000 employees for its Jaguar and Land Rover unit. Tata Mototrs post purchase of this British company, laid off workers with a view to cut the cost. This decision resulted in rage and anger among mployees. And now when the company is siding a good amount of profits, it has decided to hire 2000 more employees in coming two years. Adding more to the rumors, the company is herd to be increasing its manpower by 11 per cent globally. These hirings will be made for different positions.
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