Aston Martin will cut up to 20% of its workforce as it tries to save about £40m. The move could affect around 500 employees.
The luxury carmaker confirmed the plan after reporting deeper pre-tax losses for 2025. Losses rose to £363.9m from £289.1m the previous year.
The company had already reduced staff by 170 roles at the start of last year. It said the latest cuts followed a review of how the business is structured for future plans.
Chief executive Adrian Hallmark said the redundancies form only part of a wider effort to reshape the company. He described the process as necessary to make the group leaner and more efficient.
Aston Martin blamed weak performance on several external pressures. US trade tariffs increased costs and disrupted volumes and margins. Demand in China remained extremely subdued after changes to luxury car tariffs and a slowing economy.
The carmaker also faced supply chain disruption and an unpredictable global policy environment. It called 2025 one of its most turbulent years.
Investors had expected the losses after the firm issued multiple profit warnings since September 2024. It also sold the permanent naming rights to its Formula One team to raise funds.
Since its troubled stock market listing in 2019, the company has struggled with heavy losses, production problems and excess dealer inventory. Its shares have lost most of their value and fell a further 2% on Wednesday.
Analysts said external factors alone do not explain the decline. They warned that job cuts and asset sales will not secure long-term recovery. A sustained turnaround will depend on higher sales volumes and improved efficiency.
