Aston Martin announced on Wednesday that it will lay off another 20% of its staff. The move comes after the luxury carmaker’s annual profits fell short of expectations, hit by weak sales and high tariffs. The company said this is part of a second round of job cuts, highlighting a tough year for the iconic brand.
Aston Martin to cut 20% more of workforce
According to a Reuters report, the renowned British manufacturer of luxury sports cars and tourers has struggled under a US quota-based tariff system, which the company called “extremely disruptive.” At the same time, demand in China, one of its key markets, has been “extremely subdued,” the automaker said.
The combination of tariffs and slow sales has made it difficult for the company to generate enough cash to stay on track.
The luxury carmaker carries a debt of 1.38 billion pounds ($1.87 billion). Despite repeated injections of capital to support the business, managing this debt has continued to weigh heavily on its performance. Aston Martin said it expects more cash outflows in 2026, although it hopes the situation will improve in the years after.
Best known as the car driven by James Bond, Aston Martin is trying to navigate a difficult period in the luxury car market. The company acknowledged that profits have been disappointing, and that tough decisions, including the latest job cuts, are needed to secure its future.