Aston Martin Lagonda, the British carmaker, has announced that it will make 500 employees redundant. Redundancy consultations with employees and their representatives have already begun. In its statement announcing the redundancies, the company said that it aims to cut costs and restore profitability, arguing that a smaller workforce will be sufficient to meet the decreased demand for its cars. The sharp fall in production and sales caused by the COVID-19 pandemic has exacerbated the company’s longer-term financial problems.
Aston Martin Lagonda makes luxury sports cars at three production sites in England and Wales. The brand is associated with the fictional character James Bond, who drives Aston Martin models.