Aston Martin job cuts
UK car manufacturer Aston Martin is reportedly cutting 170 jobs, 5% of its workforce, after reporting a 21% increase in pre-tax losses to £289 million in 2023.
The company cited supply chain disruptions and production delays as key factors behind a 9% drop in wholesale volumes to 6,030 cars.
The job reductions affect all departments, including manufacturing, office roles, and management. The Warwickshire-based luxury carmaker described the move as a "difficult but necessary action" to align resources with future plans. It aims to achieve £25 million in annual savings, with half expected this year.
Despite challenges, Aston Martin has ramped up production of new models such as the Vantage and DBX707. Chief executive Adrian Hallmark, who took the helm in September, said the company must transition from "a high-potential business to a high-performing one."
