Summary
Aston Martin plans to reduce its workforce by 20% after its net losses increased by 52% to £493.2 million in 2025. The company hopes the job cuts will save around £40 million annually. Aston Martin blames U.S. tariffs and decreased demand in China for its financial struggles.
Key Facts
- Aston Martin will cut about 600 jobs, which is 20% of its workforce.
- In 2025, Aston Martin's net losses rose by 52% to £493.2 million.
- The company aims to save approximately £40 million a year with the job cuts.
- Aston Martin cited U.S. tariffs and low demand in China as major challenges.
- Capital spending on electric vehicles reduced from £2 billion to £1.7 billion.
- Most job cuts will happen in the UK, where many Aston Martin employees work.
- Aston Martin has offices and dealerships worldwide, including a site in St Athan, South Wales.
