UK car dealership Lookers may cut 945 jobs

(Reuters) -British car dealership Lookers Plc said on Friday that it might cut about 945 jobs, or 14.5% of its total workforce, as part of an ongoing strategic review following a deal to sell itself to Global Auto Holdings.

Lookers, which sells new and used cars and vans, in July agreed to a buyout offer of 504.2 million pounds ($641.29 million) from Global Auto, the entity related to privately owned Canadian car dealer Alpha Auto Group.

“(Global Auto and Lookers) have to date identified areas that require restructuring and which will require a redundancy programme to be undertaken,” the company said in a statement.

Mark Raban will step down as CEO and Oliver Laird as CFO, Looker said.

($1 = 0.7862 pounds)

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Anil D’Silva)