A Blow to the Industry
Aston Martin builds some of the most impressive cars out there, but now the company is seeking to cut 500 staff members and reduce its sports car development to save £30 million, according to EVO. The announcement came after COVID-19 has hurt the sales of many car companies, including Aston Martin. It is a shame to see the company resorting to these measures, but it’s hardly surprising.
The majority of the job losses will hit the UK, though some workers outside of the UK will be impacted, too. Aston will also reduce the number of outside contractors it works with, which will cause even more job loss.
While COVID-19 is the final straw for this kind of job loss, it is not the only contributing factor. Demand for the Vantage, DB11, and DBS has dropped considerably due to China’s recent economic downturn. Also, the uncertainty over Brexit has not done Aston Martin any favors. The Gaydon factory that produces much of Aston Martin’s vehicles will slow production to match the lower demand for the vehicles.