Aston Martin To Cut Up to 20% Of Staff As Turnaround Stalls

Aston Martin, the luxury sports car manufacturer renowned for its association with the James Bond franchise, has announced plans to reduce its workforce by up to 20%. This significant cut comes as the company grapples with ongoing financial challenges, including years of losses and a substantial debt burden. The decision to downsize aims to streamline operations and stabilize the business, which has struggled to regain profitability despite efforts to revamp its model lineup and enhance brand appeal. The automaker's predicament reflects broader issues within the luxury automotive sector, where economic fluctuations and changing consumer preferences have posed significant hurdles. While Aston Martin's leadership remains committed to turning the company around, the path to recovery appears increasingly complex, necessitating tough decisions to ensure its long-term viability in a competitive market.