Bentley plans up to 1,000 redundancies in restructuring plan to save £10m

A UK automotive manufacturer has announced that it is cutting 1,000 jobs in an attempt to save £10m per year.

Bentley, which was founded in London, has announced that it will be offering voluntary redundancy to a quarter of its staff following the impact of coronavirus on the car industry.

However, the company has said that it cannot rule out compulsory redundancies if it falls short of its target savings.

Bentley’s chairman also confirmed that the pandemic acted as a catalyst for the plan, and that it would eventually have come into action regardless.

Adrian Hallmark, chairman and chief executive officer of Bentley Motors, said: “Losing colleagues is not something we are treating lightly but this is a necessary step that we have to take to safeguard the jobs of the vast majority who will remain, and deliver a sustainable business model for the future through our Beyond100 strategy.

“The voluntary release programme at least allows the colleagues to make the personal choice and leave us with the most appealing and supportive offer possible within the circumstances.

“Covid-19 has not been the cause of this measure but a hastener.

“It is vital, even more so now with what is going on around us that we look to the long-term future of Bentley.

“This means fundamentally redefining our company so we respond immediately to protect the business through this crisis, continue to lead our sector by reinventing the company and look to establish ourselves as the leader in sustainable luxury mobility for the next 100 years.”