Aston Martin likely to remove a third of workforce
The motor industry woes continue multiplying, with Aston Martin declaring that it might have to reduce workforce by one third.
Aston Martin, the famous luxury car maker, informed that 300 permanent employees and equal number of temporary workers were going to be redundant due to adverse impact of global economic downturn on company’s sales.
Aston Martin chief executive, Ulrich Bez, explained that company has been forced to initiate actions to face unprecedented economic downturn across the world, as did many premium car brands. He called these actions as regrettable but essential in the extremely bad market conditions which all have been facing in this year.
In the month of October, Aston Martin could sell only 110 cars; 54 less than last year. Its annual sales are estimated to be down 800. Last week it decided to close Gaydon plant in Warwickshire until January 19, 2009, extending initial 2 weeks’ shutdown.
The car makers across world are severely impacted by the reduced credit liquidity and shrinking consumer spending. Steps similar to those of Aston Martin are being taken by Nissan, BMW, Honda Bentley and Mini.
Paul Everitt of the Society of Motor Manufacturers and Traders said that Aston Martin news was an indication that time was running out fast, and all necessary actions needed to be taken urgently.
Other Aspects:
Discussion Area - Leave a Comment