Lotus announces restructure
Lotus could lay-off a quarter of its workforce as it restructures to ensure a strong and sustainable future. Details here
Lotus has confirmed that some 325 employees might be laid-off as it attempts to restructure its workforce. As financial issues continue, the British sportscar maker is attempting the restructure in order to build a ‘strong sustainable future.’
Sales this year have increased by a substantial 16.79 per cent to date, but even these improvements seemingly haven’t helped to secure the future of the iconic brand.
With over 26 per cent of its 1315 strong workforce facing the prospect of losing their jobs, the Norfolk carmaker says it regrettably has to make ‘essential’ changes to survive. Jean-Marc Gales, chief executive said: ‘The harsh truth is that if Lotus is to prosper in the long term it must do even better, at lower cost.’
Could Lotus be reigning in its costs in an attempt to woo in a new buyer? The unfortunate case for many small volume British car manufacturers has been that a larger backer has often been required to secure a future. Current owner, Proton, has owned Lotus since 1996 and has seen it through periods of growth, but that relationship will undoubtedly be put under pressure if the latest moves are ineffective.
Financial issues or not, Lotus certainly still knows how to make great sportscars. The Lotus Exige S is one of our favourite track ready roadcars, with a fantastic supercharged V6 engine and fantastically balanced chassis. We can only hope it’s not the last of a long line of great cars to come from Lotus.