Aston Martin, British Luxury Automaker, Cuts 170 Jobs due to Declining Chinese Demand and Rising Losses

Aston Martin, the British luxury car manufacturer, has disclosed a decision to cut 170 jobs, which account for 5% of its workforce. The company attributes this move to supply chain challenges, production setbacks, reduced demand from China, and a 21% surge in pre-tax losses affecting its sales performance. Although facing a 43% rise in debt to $1.47 billion and a 33% decrease in share value over the last year, Aston Martin is steadfast in its determination to introduce new models and boost production levels.