Aston Martin cuts 5% of workforce amid £1.16bn debt

Published On Feb 26, 2025, 7:04 AM

Aston Martin has announced it will cut 170 jobs, representing 5% of its workforce, in response to declining sales and a significant increase in debt to £1.16 billion. The firm reported a 21% increase in pre-tax losses to £289 million and has been facing challenges including supply chain issues. In an effort to save costs, they aim for £25 million in annual savings, expecting to achieve half of that this year. The company recently launched new models, which initially boosted sales, although overall wholesale volumes fell by 9% for the entire year.