Aston Martin Lays Off 600 Workers

Luxury sports car maker Aston Martin is also feeling the economic pinch, proving that its not just the mass market brands that are having a tough time. While considering a range of cutbacks, laying off up to 600 workers seems to be the main tool against falling sales. While not a huge number compared to the thousands and more that larger automakers announce regularly, it is significant as a sign that things are bound to get worse before bouncing back. Plus, losing your job around Christmas time makes it even worse.

Press Release
Gaydon, 1 December 2008 – Aston Martin and its Trade Union partners have today begun consultation on a range of cutbacks to reflect the current downturn in the world economy and the corresponding fall in car sales. It is hoped to do this by minimising the impact on employees as far as possible, but the possibility of up to 300 permanent and a similar number of temporary job losses cannot be ruled out.

Aston Martin Chief Executive Officer, Dr Ulrich Bez said: “Like other premium car brands, Aston Martin has been forced to take action to respond to the unprecedented downturn in the global economy. These are regrettable but necessary measures in the extraordinary market conditions we all now face.

Overall we remain confident that the Aston Martin brand is the strongest it has ever been – with dedicated design, engineering and manufacturing facilities and an award-winning product range, we remain well positioned for the upturn in the economy.”