Aston Martin Cuts 5% of Workforce Amid £1.16bn Debt
Aston Martin has cut 170 jobs as the luxury auto manufacturer seeks to return to profit by reducing costs and focusing on its core business. The company's struggles were exacerbated by supply chain issues, production delays, and a decline in car sales in 2023. Aston Martin is targeting yearly savings of £25m, with half that amount expected this year.
- The significant reduction in workforce highlights the need for companies to carefully assess their operational costs and prioritize efficiency measures to stay competitive in the luxury automotive industry.
- What role will the recent product launches play in helping Aston Martin regain its momentum and address its debt burden in the coming years?