British luxury carmaker Aston Martin cuts 170 jobs as Chinese demand slumps and losses soar
- Aston Martin, a British luxury carmaker, announced the reduction of 170 jobs, equivalent to 5% of its workforce.
- The company cited supply chain issues, production delays, declining Chinese demand, and a 21% increase in pre-tax losses as factors impacting its sales performance.
- Despite its debt increasing by 43% to $1.47 billion and a 33% drop in share value over the past year, Aston Martin remains committed to launching new models and increasing production volumes.
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44 Articles
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Aston Martin Cuts Jobs As Weak China Demand Weighs
Aston Martin cuts 170 jobs as losses, debt balloon
Britain's Aston Martin will cut 5% of its workforce to save 25 million pounds ($31.61 million), its chief executive said on Wednesday, after a sharp rise in the luxury carmaker's losses and debt and as sales volumes forecast missed expectations.
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