Source: Reuters (via feed)
Aston Martin plans to cut 20% of its workforce following a weak annual profit report. The luxury carmaker faces challenges from weak demand in China and US tariff pressures. These factors combined to reduce its profitability.
The company disclosed the workforce reduction on Wednesday. This comes after Aston Martin published a profit forecast that fell short of expectations. Meanwhile, the company works to adjust its operations to current market conditions.
Demand in China, an important market, has been notably weak. Meanwhile, tariffs in the US have increased costs. As a result, Aston Martin must scale back staffing to manage expenses.
The company did not provide additional details about which departments will be affected. However, the 20% cut signals significant restructuring. Aston Martin aims to stabilize its financial position amid ongoing challenges.
Staff reductions reflect Aston Martin’s response to reduced demand and increased costs, which directly affect its profitability and operational scale.
