Jaguar Land Rover has announced another wave of job cuts, this time shedding 450 people.

The redundancies include 300 managers while 150 salaried agency staff will lose their jobs, reports the BBC website.

The firm said the action is to combat the credit crunch and a "severe reduction in demand." 

Chief executive David Smith said he did not expect sales to return to normal for some time.

Managers will not receive any bonuses in 2009 and management pay increases had been deferred until 1 October "at the earliest".

Last November, the firm shed 850 agency IT and engineering staff.

Tata, which owns JLR, has said it will invest tens of millions of pounds into the company.