Aston Martin to cut a lot of jobs
The company’s new chief executive, Andy Palmer, is trying to turn Aston Martin around (the business itself - he's not trying to do a three-point turn), which has seen a dramatic drop in sales after the financial crisis. One of the problems they've faced is that they're not part of a bigger group, and they posted a pretax loss of £25.4m in 2013, which happen to be the latest available figures.
"There will be a net reduction in the overall workforce at the company,” said a spokesperson, but would not give numbers.
The job losses won't be affecting those in production, but rather, staff who work in the office.
Earlier this year, Aston Martin managed to raise £200m from major shareholders, mainly those from outside of the UK in Kuwait and Italian private equity groups. It is clear that, abroad, they want to drive the cars James Bond has been seen in. Aston Martin are looking at electric vehicles and crossover utility vehicles in a bid to up sales.
There's talk of a new plant being opened too, which could end up being in Alabama, which flies in the face of the government's efforts to see the new production line opening in Wales.