Ineos to cut hundreds of jobs as carmaker struggles with debts

Company owned by billionaire Jim Ratcliffe says it is simplifying its head office to improve efficiency

The carmaker owned by the billionaire industrialist Jim Ratcliffe will make hundreds of job cuts across the company’s global workforce as his heavily indebted empire comes under increasing pressure.

Ineos Automotive did not specify an exact number of losses from its 1,700-strong workforce, saying only that it would shed “several hundred” head office staff across multiple locations, including the UK and parts of Europe.