Blaming Tariffs, Aston Martin to Trim 20% of Its Work Force
The New York Times • • business
Key Points:
- Aston Martin announced plans to cut 20% of its global workforce to save approximately £40 million ($54 million) annually, citing tariffs and challenging market conditions as key factors impacting profitability.
- The job reductions follow an organizational review aimed at strengthening the company's financial position amid geopolitical uncertainties and increased tariffs in the U.S. and China.
- The luxury carmaker reported a widened loss of £493 million for 2025, up from £324 million the previous year, with about 3,000 employees worldwide.
- Aston Martin's shares dropped nearly 2% on the London Stock Exchange following the announcement, reflecting investor concerns over the company's financial challenges.
- The company, like Jaguar Land Rover, exports vehicles to the U.S
