Aston Martin to cut one-fifth of jobs due to Covid-19-related stress
This is just two months after Canadian billionaire Lawrence Stroll led a £536m capital infusion that was meant to rescue the company
London — Aston Martin Lagonda plans to cut as many as 500 jobs to cope with lower demand for luxury cars amid the coronavirus pandemic.
The British company will begin consulting with employees and unions in coming days about building fewer front-engined sports vehicles, Aston Martin said in a statement on Thursday. The vehicle maker is targeting savings of about £18m in operating and manufacturing costs, while also lowering capital expenditure by a further £10m...