Feb
Aston Martin cuts 170 jobs after fall in sales
Aston Martin has cut 170 jobs after losses widened by a fifth last year and fewer cars were sold in 2023 following a string of supply chain issues and production delays.
The luxury auto manufacturer, which has its headquarters in Gaydon, Warwickshire, said it planned to axe 5% of the workforce as part of cost-cutting measures to return to profit.
All of the company's departments have been hit, including manufacturing, office jobs and management.
In a statement on Wednesday, the company said the aim was to make sure the company was "appropriately resourced for its future plans", and called the cuts a "difficult but necessary action".
Aston Martin - famous for making fictional spy James Bond's cars - said it was targeting yearly savings of £25m and expected to hit about half of that total this year.
Since it was bought by Canadian billionaire Lawrence Stroll in 2020, the company has pushed on with a swathe of new model launches in a bid to turn its ailing fortunes around.
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