The luxury automaker will cut 5% of its workforce to save 25 million pounds, its chief executive said on Wednesday.

Job losses are expected to save Aston Martin £25 million as it struggles with supply chain disruptions, inefficiencies, and weak Chinese demand. View on euronews

Aston Martin CEO Adrian Hallmark has confirmed that around 170 employees - or circa five per cent of the workforce - will leave the brand this year. The departures will be throughout the business, and are expected to save Aston Martin around £25m as it aims to forge a path towards consistent, sustainable profitability.

Aston Martin has confirmed that hundreds will lose their job amid major financial savings from the luxury brand.

Aston Martin is to cut as many as 170 jobs globally as it delayed the launch of its first electric vehicle for a second time. The luxury carmaker said it would cut its global workforce by 5pc as its losses widened by a fifth last year.

Luxury car manufacturer Aston Martin is proposing to cut 170 jobs in a drive to boost productivity. New CEO Adrian Hallmark said 5% of its global workforce will depart, making savings of £25m, as the manufacturer looks to ‘optimise’ its structure and deliver long-term growth.

Aston Martin will reduce its global workforce by about 5% to cut costs and focus on future investments. The launch of the company's first battery electric vehicle has been delayed for the second time,

Shares in Aston Martin Lagonda tanked on Wednesday as the luxury car maker announced plans to axe around 5% of its global workforce in a bid to cut costs, and reported a widening of its losses.

Aston Martin has cut 170 jobs after losses widened by a fifth last year and fewer cars were sold in 2023 following a string of supply chain issues and production delays. The luxury auto manufacturer,

The company plans to reduce its global workforce by 5% as part of a cost-savings push after it reported weaker earnings and revenue, and pushed back the launch of its first fully electric car.

Aston Martin Lagonda said on Wednesday that it was planning to axe around 5% of its global workforce in a bid to cut costs, as it reported a widening of its losses.