The company plans to reduce its global workforce by 5% as part of a cost-savings push after it reported weaker earnings and revenue, and pushed back the launch of its first fully electric car.

Aston Martin announced on Wednesday that it will cut approximately 5% of its global workforce as part of a broader effort to streamline operations and reduce costs in an announcement that caused its share price to fall by about 9%.

Aston Martin CEO Adrian Hallmark has confirmed that around 170 employees - or circa five per cent of the workforce - will leave the brand this year. The departures will be throughout the business, and are expected to save Aston Martin around £25m as it aims to forge a path towards consistent, sustainable profitability.

Aston Martin has confirmed that hundreds will lose their job amid major financial savings from the luxury brand.

Luxury carmaker Aston Martin said today it will cut about 5% of its global workforce to further reduce costs and drive future investments, and delayed the launch of its first battery electric vehicle (BEV) for the second time.

Luxury car manufacturer Aston Martin is proposing to cut 170 jobs in a drive to boost productivity. New CEO Adrian Hallmark said 5% of its global workforce will depart, making savings of £25m, as the manufacturer looks to ‘optimise’ its structure and deliver long-term growth.

Aston Martin is to cut as many as 170 jobs globally as it delayed the launch of its first electric vehicle for a second time. The luxury carmaker said it would cut its global workforce by 5pc as its losses widened by a fifth last year.

Aston Martin Lagonda said on Wednesday that it was planning to axe around 5% of its global workforce in a bid to cut costs, as it reported a widening of its losses.

Aston Martin has cut 170 jobs after losses widened by a fifth last year and fewer cars were sold in 2023 following a string of supply chain issues and production delays. The luxury auto manufacturer,

Shares in Aston Martin Lagonda tanked on Wednesday as the luxury car maker announced plans to axe around 5% of its global workforce in a bid to cut costs, and reported a widening of its losses.