Aston Martin cuts 20% of workforce as losses widen

Aston Martin has confirmed it will be axing 20% of its workforce, with the firm's net losses jumping 52% last year to £493.2m.

The luxury car firm, synonymous with James Bond, has struggled for several years and blamed US president Donald Trump's tariffs in a statement made last month.

Aston Martin, which has its headquarters in Gaydon, Warwickshire, employs about 3,000 people, meaning job losses will total around 600.

The firm said the job cuts should deliver annual savings of around £40m and did not specify when the job cuts would be implemented, but said most of the savings would be made this year.

A spokesperson for Aston Martin said US tariffs had been "extremely disruptive" and demand had also been "extremely subdued" in China, the world's biggest auto market.

It has also trimmed its five-year capital spending plan to £1.7bn from £2bn by delaying investment in electric vehicle technology.

Aston Martin said: "Having undertaken at the start of 2025 a process to make organisational adjustments to ensure the business was appropriately resourced for its future plans, we had to take the difficult decision at the end of 2025 to implement further changes.

"This latest programme will ultimately see the departure of up to 20% of our valued workforce."

It is understood the majority of cuts will impact the UK, where the bulk of Aston Martin's workers are based, with roles across the business being impacted, including factory staff.

The company also has a UK site in St Athan, south Wales, as well as worldwide offices and dealerships.

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