Aston Martin sends 3,000 workers home - British manufacturer says US tariffs are the reason
British luxury carmaker Aston Martin will cut its workforce by up to 20% as it tries to recover from the impact of US import tariffs and weak demand in China.
Aston Martin said the job cuts from a total workforce of around 3,000 should deliver annual savings of around £40m. The company did not specify when the job cuts would be implemented, but said the majority of the savings would be this year. The cuts include a 5% reduction announced last year.
The company also cut its five-year capital expenditure plan to £1.7 billion from £2 billion, delaying investment in electric vehicle technology.
Known as the brand of cars driven by James Bond, the company has struggled to generate revenue and manage its £1.38 billion debt.
Company executives said the US tariffs had been "extraordinarily devastating" and demand had also been "extraordinarily low" in China, the world's largest auto market.
The company posted an operating loss of £259.2 million in 2025. As part of its efforts to improve finances, it reached a £50 million deal to sell the perpetual rights to the brand to its Formula 1 team last week.
Education workers' salaries are being indexed - How have incomes changed since the 2017 reform?
The salaries of employees in the pre-university education system have been increased through indexation and new allowances, affecting about 36 thousand......
How will inherited and privatized buildings be revalued? - Example/ Apartments without registered value are calculated at operating cost
The law on property revaluation provides the possibility of revaluation at a 5% tax rate even to citizens who have a residence that does not have a......
Construction sites, in the "sieve" by IKMT - Verification begins, Stay: Strict measures for technical safety violators
The increase in fatal accidents at work in the construction sector has put the responsible institutions on alert. The National Inspectorate for Territorial......
“Vote for the EU-US agreement!” - European Commission's request to MEPs despite new tariffs
EU Trade Commissioner Maroš Šefčovič urged lawmakers to move forward with the EU-US trade pact, even as Washington is imposing new tariffs and legal......
Over 712 thousand passengers in January - What were the most popular destinations at Tirana Airport?
The first month of 2026 ended with positive indicators for Tirana International Airport, with 712,030 passengers registered and 4,238 flights operated.......
Britons will pay less for energy - Regulator reduces maximum price by 7% from April
Most British households will pay lower energy bills from April, energy regulator Ofgem said, after cutting the maximum price by 7% under government measures......
Exchange rate/ The US dollar weakens. The franc gains points!
The US dollar started this morning in negative values, marking a decrease compared to the day before, as it was bought today for 81.2 lek and sold for 82.1......
"Closer economic cooperation with China" - German Chancellor, Friedrich Merz, on a visit to Beijing
China and Germany want to deepen cooperation, German Chancellor Friedrich Merz and Chinese Premier Li Qiang said in Beijing, as Merz began a visit aimed at......
