500 jobs will be slashed on Merseyside.

Jaguar Land Rover is set to slash the workforce at its Halewood factory on Merseyside by 10 percent as part of the company's ongoing cost cutting measures.

The Tata-owned company announced on Wednesday that it would change shift patterns at the factory near Liverpool in a bid to increase its efficiency.

"Jaguar Land Rover is taking action to optimise performance, enable sustainable growth and safeguard the long-term success of our business," Jaguar Land Rover said in a statement.

2020 Land Rover Discovery Sport

Halewood will switch from three production shifts to two in April as a result of the move, meaning that around 500 of the 4,500-strong workforce will be cut. Jaguar Land Rover previously announced plans to cut 4,000 jobs globally as it looked to save £2.5 billion.

Currently the Land Rover Discovery Sport (pictured above) and Range Rover Evoque are made at the factory, which opened in the 1960s as a Ford plant. Both models are also made in China.

Jaguar Land Rover sold 83,574 Discovery Sports last year, making it the brand's best-selling car worldwide. However, that does represent a decrease in sales of 10 percent for the year. Meanwhile sales of the Evoque are up by 10 percent to 81,688 units.