The group had revealed earlier this month it was consulting on the most recent redundancy programme.
Aston Martin Lagonda has confirmed plans to chop its workforce (Picture: Getty)
Luxurious carmaker Aston Martin Lagonda has confirmed plans to chop its workforce by as much as one other fifth because it seems to be to save lots of round £40 million after widening losses. The British producer, which revealed earlier this month it was consulting on the most recent redundancy programme, mentioned it might cut back its workforce by as much as 20% after motion at the beginning of final yr that lower 170 jobs.
The luxurious carmaker, recognized for its affiliation with the James Bond movie sequence, in its newest annual report had slightly below 3,000 employees, suggesting cuts could have an effect on greater than 500 employees. Aarin Chiekrie, fairness analyst at Hargreaves Lansdown, mentioned chopping employees was “solely a part of the puzzle, as these initiatives can solely be taken to this point”. The knowledgeable added: “Lengthy-term success will depend on reversing the group’s declining gross sales volumes and benefitting from the improved efficiencies {that a} larger output would convey. Slicing the workforce so drastically makes a big ramp-up in volumes exhausting to realize, and the highway forward stays a troublesome one to navigate for Aston Martin.”
The group mentioned on Wednesday: “Having undertaken at the beginning of 2025 a course of to make organisational changes to make sure the enterprise was appropriately resourced for its future plans, we needed to take the troublesome resolution on the finish of 2025 to implement additional adjustments. This newest programme will in the end see the departure of as much as 20% of our valued workforce.”
Particulars of the roles cull got here because it reported widened pre-tax losses of £363.9 million for 2025 in opposition to losses of £289.1 million the earlier yr as buying and selling got here underneath strain from US tariff hikes and weak demand.
Strain on the carmaker has intensified as international commerce disputes have escalated.
Over the previous yr, the corporate’s wholesale shipments dropped by 10% to five,448 autos, signalling a pointy slowdown in demand and distribution. This decline fed instantly into its monetary outcomes: income fell by 21 per cent to £1.3bn, and that downturn in gross sales dragged income down by 37% to £370m.
UK automotive manufacturing suffered a dramatic setback final Could, hitting its lowest output since 1949, largely as a result of American commerce coverage out of the blue closed off a vital export route.
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When the US administration launched steep tariffs on foreign-made automobiles, British producers comparable to Aston Martin and Jaguar Land Rover halted shipments sure for the American market from April.
That disruption didn’t simply dent gross sales; it created a ripple impact throughout manufacturing traces, leaving factories working far beneath capability and exposing how susceptible the trade was to abrupt shifts in international commerce guidelines.
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