Aston Martin Lagonda to axe fifth of jobs – £40m | Tech News

Luxury carmaker Aston Martin Lagonda has confirmed plans to cut its workforce by up to one other fifth because it appears to be like to save round £40 million after widening losses. The British producer, which revealed earlier this month it was consulting on the newest redundancy programme, mentioned it could cut back its workforce by up to 20 % after motion initially of final yr that cut 170 jobs.

The luxurious carmaker, identified for its affiliation with the James Bond movie collection, in its newest annual report had slightly below 3,000 employees, implying cuts of more than 500 staff. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, mentioned chopping employees was “only part of the puzzle, as these initiatives can only be taken so far. Long-term success will rely on reversing the group’s declining sales volumes and benefitting from the improved efficiencies that a greater output would bring. Cutting the workforce so drastically makes a significant ramp-up in volumes hard to achieve, and the road ahead remains a difficult one to navigate for Aston Martin.”

The group mentioned on Wednesday: “Having undertaken at the start of 2025 a process to make organisational adjustments to ensure the business was appropriately resourced for its future plans, we had to take the difficult decision at the end of 2025 to implement further changes. This latest programme will ultimately see the departure of up to 20% of our valued workforce.”

Details of the jobs cull got here because it reported widened pre-tax losses of £363.9 million for 2025 towards losses of £289.1 million the earlier yr as trading got here beneath strain from US tariff hikes and weak demand.