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Aston Martin Plans to Cut 20% of Workforce to Address Tariffs
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British luxury car maker Aston Martin, in which Geely Group holds a stake, said on Wednesday that it will cut up to 20% of its workforce to counter the impact of import tariffs from the US and weak demand in China. The layoffs will affect approx. 3,000 employees, and are expected to save around GBP40 million (approx. US$54 million) annually, the Company added. The Company did not disclose when the job cuts will be implemented, but mentioned that most actions will be realized this year. AASTOCKS Financial News Website: www.aastocks.com |
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