This Luxury Automaker Is Firing 15 Percent Of Its Workforce

Industry News

It better be worth it.

Andy Palmer, CEO of Aston Martin, is very busy with his big turnaround plan for the company. To bring Aston Martin to financial stability for the first time since its inception, new platforms and technology (including an SUV) are in development. For example, Aston Martin is considering electric vehicles to avoid engine downsizing. It also partnered up with AMG a while ago for V8 engines. The company also raised money to build the DBX crossover and is also currently updating and revising all of its models with the upcoming DB11 set to replace the DB9.

There’s a lot going on at Aston Martin right now for sure. To accommodate the costs of this plan Bloomberg reports that Aston Martin will let go of around 295 of its 2,100 employees. That’s around 15 percent! Bloomberg also states that even more employees, most likely in the administrative, professional and managerial areas, might lose their jobs. However, the workers at the assembly line will keep their jobs because someone has to build all these new cars. The brand built around 4,000 vehicles this year, which is not that many considering its financial situation, so increasing production numbers and cutting staff seems smart. Maybe Aston Martin can sell a few more Lagondas to avoid job losses.

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