Aston Martin Lagonda Global Holdings announced on Wednesday that it will reduce up to 20% of its global workforce, affecting about 600 workers.
The British luxury automaker said that the “difficult decision” is set to deliver annual savings of approximately £40 million — equivalent to $54.1 million.
The company mentioned that the “majority” of savings will occur in 2026, with related transformation cash costs estimated at around £15 million ($20.3 million).
However, Aston Martin did not specify when the layoffs would be implemented.
According to the UK media outlet Barry & District News, affected staff are “expected to leave by April following a period of consultation.”
The automaker’s CEO Adrian Hallmark addressed the challenging conditions that impacted the business last year.
“In 2025, we navigated a highly challenging trading environment whilst delivering on critical operational milestones,” the Chief Executive stated.
“An unprecedented backdrop of geopolitical uncertainties and macroeconomic pressures, including heightened tariffs in the US and China, weighed on our performance and ability to execute our plans effectively,” he added.
A firm spokesperson reiterated that US tariffs were “extremely disruptive” and demand was also “extremely subdued” in the world’s biggest automotive market.
The latest job cuts at the Warwickshire-based company will impact roles in multiple departments, including in its factories, with most affected employees based in the UK.
Aston Martin also operates a manufacturing plant in St Athan, South Wales, which was “once described as a major economic boost” for the region, as stated by Barry & District News.
The site had already been at risk of more than 100 job cuts last November.
2025 Earnings
On Wednesday, Aston Martin disclosed its 2025 full-year results which reflected what Hallmark described as “challenging macroeconomic conditions.
Aston Martin posted a 2025 revenue of £1.3 billion ($1.8 billion), representing a decrease of approximately 21%.
It made an operating loss of £259.2 million — equivalent to $351.0 million —, down around 161% year-on-year.
The automaker’s stock declined 1.4% to £56.9 ($77.1) following the announcement, trading near its 52-week low of £54.7 ($74.1).
The firm’s shares increased by nearly 5% after falling in nine consecutive sessions.
Even after receiving capital injections from Canadian billionaire and Chairman Lawrence Stroll and through deals, Aston Martin still has a debt of £1.4 billion ($1.9 billion), Reuters noted.
The company trimmed its five-year capital spending plan by 15.0% to £1.7 billion — equivalent to $2.3 billion —, by delaying investment in EV technology.
The car maker said it expected further cash outflows in 2026, but also predicted “material improvement” in its financial performance.
Last week, Aston Martin struck a 50-million-pound deal to sell the perpetual branding rights to its Formula One team last week.
2025 Sales
The British car maker achieved a wholesale total of 5,448 vehicles last year, down 9.7% from 2024, with 6,030 units sold domestically and overseas.
In its domestic market, the company registered 1,032 vehicles — a 5.0% year over year decline.
The firm also saw its sales drop in America and EMEA (excluding the UK) by 3.1% and 12.0%, respectively, but the largest decline occurred in the APAC region, which includes China.
In this area, deliveries slumped by 20.7% to 968 from the 1,220 units recorded in 2024.
Lucid’s Layoffs
Last Friday, Lucid’s Interim CEO Marc Winterhoff announced to the company’s employees that it will cut 12% of jobs, in advance of the launch of its third model later this year.
Affecting several departments, from battery testing and R&D to talent acquisition, some of the layoffs include former Nikola engineers who joined the Saudi-backed EV maker less than a year ago.
