Aston Martin slashes staff as US tariffs hit carmakers
The Peninsula
London: British luxury carmaker Aston Martin Lagonda on Wednesday announced plans to cut up to 20 percent of its workforce after widening annual losse...
London: British luxury carmaker Aston Martin Lagonda on Wednesday announced plans to cut up to 20 percent of its workforce after widening annual losses on US tariffs and weak Chinese demand.
The job losses total around 600, with Aston Martin employing some 3,000 people, mostly in the UK.
The carmaker, which has struggled for several years, added in a statement that its net loss jumped 52 percent last year to £493.2 million ($667 million), compared with 2024.
Group annual revenue dropped 21 percent to £1.258 billion as car sales for the brand beloved by fictional British spy James Bond fell 10 percent to 5,448.
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