The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
West Midlands; Herefordshire; Worcestershire and Warwickshire
Location of affected unit(s)
Sector
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
295 jobs Number of planned job losses
Announcement Date
14 October 2015
Employment effect (start)
Foreseen end date
Description
Car manufacturer Aston Martin has announced plans to cut 295 jobs from its 2100 strong workforce. The sports car manufacturer which is based at Gaydon in Warwickshire has made a loss for each of the last three years and is taking this step to reduce operating costs. A review of the business is currently underway and will report at the end of 2015 or at the start of 2016. It is understood that the manufacturing team based at Gaydon will not be affected by the cuts which are expected to come from the marketing and administration departments. It is not yet known when the job losses will take effect.
Sources
14 October 2015: The Telegraph
Citation
Eurofound (2015), Aston Martin, Internal restructuring in United Kingdom, factsheet number 85163, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/85163.
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