Aston Martin has cut 170 jobs after losses widened by a fifth last year and fewer cars were sold in 2023 following a string of supply chain issues and production delays. The luxury auto manufacturer,

(Reuters) - Luxury carmaker Aston Martin said on Wednesday it will cut about 5% of its global workforce, or 170 employees, to further reduce costs and drive future investments. "We are commencing a process to make organisational adjustments, to ensure the business is appropriately resourced for its future plans," the company said in a statement.

Aston Martin Lagonda announced Wednesday it would cut about five percent of its workforce as weak Chinese demand contributed to losses widening at the luxury car group last year.