Lotus' Slow Death Continues As It Faces The Prospect Of Cutting A Quarter Of Its Staff

The prolonged death of one of the most iconic manufacturers in the world continues. Today, Group Lotus announced that it is restructuring its worldwide workforce due to a need to reduce costs, with up to 325 jobs at risk - that’s approximately a quarter of its staff.

This news doesn’t come as a surprise. Lotus’ financial struggles have been well documented, and as far back as January 2013 we were already talking about poor sales being the final nail in its coffin.

According to a statement:

The company wants to ensure that it has the right organisational structure in place to achieve its business goals and to build a strong, sustainable future. Regrettably, it is likely that compulsory job losses will be needed to ensure that the company has the right number of people with the right skills.

Despite reducing its workforce, Lotus appears confident - outwardly, at least - that it can remain competitive. Whether this proves successful remains to be seen, but we can’t help but feel this move is just delaying the inevitable.