The losses, which could total up to 325 of its 1215 global staff, form part of a restructuring plan proposed in a push for profitability under new parent DRB-HICOM.
It is unclear which sector of the company will be most heavily impacted by the expected cuts, although a significant 1032 of its staff are based at its Norfolk facilities in the UK.
Group Lotus CEO Jean-Marc Gales, the former boss of PSA Peugeot Citroen, said in a statement today that the company “understands the concerns that this proposal will create”.
“We deeply regret the potential impact any reshaping of the business may have on our employees and their families.”
“We have worked very hard to avoid the need to make the proposal, but do believe that it is now essential. It is in no way a reflection on our employees who have shown nothing but dedication to us and have worked tirelessly to support Lotus.”
The layoffs are still to be confirmed, but Gales said today that the company must work to become a “leaner, more competitive organisation”.
“Group Lotus will now consult with staff and workers’ representatives on the proposed changes and on ways and means of avoiding job losses, reducing the number of job losses and mitigating the impact of any changes that are necessary.”
He said the company will focus “on both producing class-leading sports cars and innovative engineering. We will also build upon the improved sales results seen over the last few months.”
This latest development follows news last year that Lotus had been granted AU$18.5 million in funding by the UK governent, in addition to an AU$178 million investment from parent DRB-Hicom.
Despite the funds injection, there has been little in the way of news regarding any all-new Lotus products since the aborted revolution proposed by ousted former CEO Dany Bahar.
Recent reports suggest Lotus is considering a new sports sedan or an SUV model - both top-selling segments globally - although the company has yet to confirm plans.
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