Aston Martin to Cut Up to 20% of Staff as Turnaround Stalls - Bloomberg

Aston Martin Lagonda Global Holdings PLC is planning to cut as much as 20% of its workforce, according to people with knowledge of the matter, as the luxury carmaker struggles to regain its footing after a series of setbacks. The company, which has been undergoing a significant turnaround effort since last year, has faced challenges including production delays, supply chain disruptions, and weaker-than-expected demand for some of its models. The planned job cuts, which could affect up to 1,600 employees, are part of a broader restructuring aimed at reducing costs and improving profitability. Aston Martin has been working to revive its brand and boost sales, but the ongoing economic uncertainty and intense competition in the luxury automotive market have made the task more difficult. The company has also been seeking new investment to fund its future product development and expansion plans. The news comes as Aston Martin prepares to release its latest financial results, which are expected to show a continued struggle to achieve profitability.