The cute little Tata Nano may have gone on sale this week in India, but it’s no more Mr Nice Guy as far as Ratan Tata’s UK investments are concerned.
Ratan Tata told Sky News in an interview that the company could cut jobs in the UK if the government did not guarantee multimillion pounds of loans to the company.
In the exclusive interview Tata said, “If the attitude is to see who blinks first, the damage is going to be quite devastating…because we are not coming for a bail out. Undoubtedly, if funds are not available, a company will not be able to run…so layoffs will take place, redundancies will take place.”
Tata’s comments come a little over two weeks after JLR management and its workers agreed to a two-year pay freeze, subject to no compulsory layoffs for the next two years.
This is also the first time the Tata chairman has made a direct public appeal to the UK government for credit support.