Aston Martin is to cut 500 jobs as the carmaker overhauls its business in response to falling sales of its signature sports cars.
The pandemic has deepened the crisis at the luxury carmaker which was already trying to reduce a backlog of cars before the UK government lockdown closed its dealerships and showrooms.
Aston Martin said on Thursday that its business required a fundamental reset as it aimed for profitability, and that the proposed job cuts would help right size its structure. An employee consultation process will be launched in the coming days.
While Aston Martin said it had seen a strong order book for its first SUV, the DBX, it has had to reduce the volume of sports cars it builds in response to flagging demand.
Aston Marti…
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