Aston Martin to cut up to 20% of its workforce as tariff and China pain rocks automakers [Business Insider]
Toyota Motor Corporation (TM)
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Source: Business Insider
Become an Insider and start reading now. Have an account? Log in British supercar maker Aston Martin said it's cutting up to 20% of its workforce. Like the rest of the industry, the company is facing a major headache over US tariffs. President Donald Trump announced a new 15% global tariff on Saturday after a Supreme Court defeat. British automaker Aston Martin said it's cutting up to 20% of its workforce as it battles supply chain chaos caused by President Donald Trump's shifting tariff policy. The company, which is known for its sleek supercars favored by James Bond, said in its Wednesday earnings report that it expects operating expenditure and capex savings of about £40 million ($54 million) from the cuts. Trump imposed a 25% tariff on car imports last April, adding export costs to the supercars hand-made in Aston Martin's UK factory. While a subsequent US-UK agreement in May provided some relief for British automakers, there has been fresh uncertainty after Trump
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