Aston Martin cuts 500 jobs as car sales plummet
Aston Martin has today said it is to slash 500 jobs as car sales plummet.
The sports maker is looking to reduce costs by £10 million and will launch the employee consultation process in the coming days.
The company also plans to reduce its sports car production in order "to rebalance supply to demand".
Aston Martin said: "The measures announced today will right-size the organisational structure and bring the cost base into line with reduced sports car production levels, consistent with restoring profitability."
"Aston Martin will shortly launch a consultation process on proposals to reduce employee numbers by up to 500, reflecting lower than originally planned production volumes and improved productivity across the business."
Aston added that it would also reduce budgets for contractors, marketing and travel.
The announement comes as another hammerblow for the car industry which has suffered as people have been forced to stay at home under lockdown.
