Source: Reuters
“British luxury car maker Aston Martin will cut its workforce by up to 20%, it said on Wednesday, as it strives to recover from the impact of U.S. import tariffs and weak demand in China. Aston Martin said the job cuts from a total workforce of around 3,000 should deliver annualised savings of around 40 million pounds ($54 million). It did not specify when the job cuts would be implemented, but said most of the savings would be this year. The cuts include a 5% reduction announced last year. … Best known as the car brand driven by James Bond, the company has struggled to generate cash and manage its debt of 1.38 billion pounds, although it has received injections of capital from Canadian billionaire and Chairman Lawrence Stroll and through deals. It said U.S. tariffs had been ‘extremely disruptive’ and demand had also been ‘extremely subdued’ in China, the world’s biggest auto market.” (02/25/26)