Losses widen at Aston Martin as company battles global trade disruption

British luxury car maker Aston Martin (AML.L) will cut its workforce by up to 20 per cent, the company said this week, as it strives to recover from the impact of US import tariffs and weak demand in China.

Aston Martin said the job cuts from a total workforce of around 3,000 should deliver annualised savings of around 40 million pounds ($54 million). It did not specify when the job cuts would be implemented, but said most of the savings would be this year. The cuts include a 5 per cent reduction announced last year.