Aston Martin has announced plans to cut up to 20% of its global workforce as it struggles with rising losses and the impact of U.S. trade tariffs.
The move could affect about 600 of the company’s roughly 3,000 workers. The luxury carmaker said the job cuts are expected to save about £40 million yearly. It did not confirm when the layoffs will start but said most savings would come this year.
The decision follows a tough financial year for the British brand. The company’s losses jumped by 52% to £493.2 million in 2025, driven by weak sales and global trade tensions.
The firm said U.S. import tariffs had been “extremely disruptive” to its business. Demand in China, the world’s largest luxury car market, was also described as “extremely subdued.”
Chief executive Adrian Hallmark said the global luxury car industry faced major challenges in 2025.
“Instead of competing on innovation and brand strength, we had to deal with an unpredictable policy environment and supply chain pressures,” Hallmark said.
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Most of the job cuts are expected in the United Kingdom, where the company’s main production and engineering operations are located, including the St Athan facility in Wales.
The company has also reduced its five-year capital spending plan to £1.7 billion from £2 billion. The change reflects delayed investment in electric vehicle development as the brand shifts focus toward hybrid technology.
Shares in Aston Martin rose by as much as 5% in early trading after several days of decline, as investors reacted to the restructuring and hopes of improved performance later in the year.