Aston Martin announced on Wednesday that it will reduce its workforce by a further 20 per cent, marking a second round of job cuts as annual profits fell short of expectations due to weak sales and elevated tariffs. The company stated that the decision underscores what has been a challenging year for the iconic British marque.
According to a Reuters report, the manufacturer of high-end sports cars and grand tourers has struggled under a United States quota-based tariff system, which the company described as extremely disruptive. At the same time, demand in China, one of its principal markets, has remained extremely subdued, the automaker informed.
The combined impact of tariffs and sluggish sales has made it increasingly difficult for the company to generate sufficient cash to remain on course financially.
Aston Martin currently carries debt of £1.38 billion, equivalent to approximately $1.87 billion. Despite repeated capital injections aimed at stabilising the business, servicing and managing this debt has continued to weigh heavily on overall performance. The company stated that it anticipates further cash outflows in 2026, although it expressed hope that conditions will improve in subsequent years.
Best known globally as the marque associated with the fictional spy James Bond, Aston Martin is attempting to steer through a turbulent period for the luxury automotive sector. The company acknowledged that profits have been disappointing and stated that difficult measures, including the latest workforce reductions, are necessary to safeguard its long-term future.