Lotus May Lay Off 27 Percent of Its Staff
Hundreds Lotus employees may be out of a job in the near future.
The British automaker has released a statement revealing that it plans to reorganize the company and that could mean terminating up to 325 of its 1,215 employees worldwide. According to CEO Jean-Marc Gales, the British automaker has “worked very hard to avoid the need to make the proposal, but do believe that it is now essential.”
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Lotus is launching a 45-day consultation process as the automaker tries to recover from its recent years of financial troubles. The company is currently owned by Malaysian-based DRB-Hicom, which has insisted it is ready to stand behind Lotus and has hired consultants Ernst & Young and Rothschild to help create a financial turnaround plan.
“We understand the concerns that this proposal will create,” said Jean-Marc Gales, chief executive officer of Group Lotus, in a statement. “We deeply regret the potential impact any reshaping of the business may have on our employees and their families.”
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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