Aston Martin to slash workforce
The company has a factory in St Athan - it's not clear where the axe will fall.
Last updated 26th Feb 2025
The car maker, Aston Martin, which has a factory in St Athan, has announced major job losses.
The firm says 170 jobs are being cut, that is about a fifth of its workforce, with the majority going in the UK.
It is thought around 150 jobs will be lost in Britain, although it is not clear exactly which sites will see roles go.
We do, however, know that all of the company's departments will be affected, including manufacturing, office jobs and management.
As well as the factory in St Athan, Aston Martin has its headquarters in Warwickshire.
Aston Martin says the job losses are in response to widening losses, which grew by a fifth last year, and the fact it sold fewer cars than in 2023 following a string of supply chain issues and production delays.
It said on Wednesday that the aim is to make sure the company is "appropriately resourced for its future plans", calling the cuts a "difficult but necessary action".
The company is targeting yearly savings of £25m, and expects to hit about half of that total this year.
Meanwhile, Aston Martin also said it will delay the rollout of its first fully electric vehicle until near the end of the decade.
It was originally set to be launched in 2026, and the delay is part of what the company is calling a "phased approach" to electrification.