British luxury carmaker consulting on cutting 20% of workforce as revenue slumps 21% to £1.3bn, but expects material improvement in 2026 with Valhalla supercar deliveries
Aston Martin
Aston Martin is set to slash its workforce by approximately a fifth after the company’s financial performance suffered from President Donald Trump’s unpredictable tariff policies.
The British manufacturer announced on Wednesday it had recognised a provision of £18.7m in relation to anticipated restructuring costs as it consults on reducing 20 per cent of its global workforce as part of an operational review.
In its most recent annual report, the luxury carmaker, renowned for its connection with the James Bond film franchise, employed just under 3,000 staff, suggesting redundancies of more than 500 workers.
It has it HQ in Gaydon in the West Midlands as well as a factory at St Athan in South Wales.
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Pressure has intensified on the carmaker amid heightened international trade tensions. Over the past year, the group’s wholesale volumes dropped 10 per cent to 5,448 units.
Meanwhile revenue plummeted 21 per cent to £1.3bn, pulling down profit 37 per cent to £370m, as reported by City AM.
Adrian Hallmark, Aston Martin chief executive, said: “In 2025, we navigated a highly challenging trading environment whilst delivering on critical operational milestones.
“An unprecedented backdrop of geopolitical uncertainties and macroeconomic pressures, including heightened tariffs in the US and China, weighed on our performance and ability to execute our plans effectively.”
Trump tariffs strike carmakers.
Last May, UK car production tumbled to its lowest level since 1949 as manufacturers bore the brunt of the US’ trade policy. Following Trump’s introduction of substantial tariffs on foreign-manufactured vehicles, British companies including Aston Martin and Jaguar Land Rover were compelled to halt US-bound shipments from April.
In October, the manufacturer attributed a combination of economic pressures and the continuing impact of tariffs as it cautioned sales would decline year on year.
Aston Martin is forecasting a “material improvement” for the year ahead, with approximately 500 deliveries of its limited-edition hybrid supercar Valhalla and the advantages of its transformation strategy.
Hallmark described the commencement of Valhalla as the “highlight of the year”.
“Looking ahead, I remain confident that our strategy and upcoming products will position us strongly for future success. In 2026, we expect to deliver a material improvement in financial performance and continue delivering year-on-year improvements over the short-mid-term with a focus on margin expansion and cash flow generation,” he added.