ASTON Martin has announced plans to cut hundreds of jobs.
The luxury car maker, which has its headquarters at Gaydon, is set to axe 20 per cent of its 2,800 worldwide workforce, meaning job losses will total around 560. The latest redundancy programme follows 170 job cuts announced at the start of last year.
The company is understood to be looking to make saving of £40 million after a jump in reported net losses to £493.2 million last year.
The finger of blame has been pointed at US president Donald Trump’s tariffs, together with current low demand in China, which has also impacted other high-end car makers.
It is not yet clear when the latest round of job cuts will be implemented or how many will be among employees based in south Warwickshire.
But most of the redundancies are expected to fall in the United Kingdom, where the majority of its workforce is based.
Gaydon, where the company moved its headquarters in 2003, is also home to a design studio, and the main manufacturing site.
The company also has a UK site in St Athan, in south Wales, as well as worldwide offices and dealerships.
In a statement, Aston Martin said: “Having undertaken at the start of 2025 a process to make organisational adjustments to ensure the business was appropriately resourced for its future plans, we had to take the difficult decision at the end of 2025 to implement further changes.
“This latest programme will ultimately see the departure of up to 20 per cent of our valued workforce.”
As part of the cost-cutting move, the company has also delayed investment in electric vehicle technology.
