Despite intense interest in Aston Martin's One-77 Supercar and a product range that sets hearts aflutter, the British marque is looking to cut some 600 of its 1850 workers due to our unwelcome house-guest, Mr 'economic downturn'. Half of these positions are full-time and will likely be coupled with other cost-saving measures to ensure Aston can weather the financial storm.
Aston Martin CEO Ulrich Bez explained the situation:
"Like other premium car brands, Aston Martin has been forced to take action to respond to the unprecedented downturn in the global economy. These are regrettable but necessary measures in the extraordinary market conditions we all now face."
While some tightening of the belt will be needed in the immediate future, Aston Martin is confident that it is well placed for when the market returns to normalcy.
"Overall we remain confident that the Aston Martin brand is the strongest it has ever been ? with dedicated design, engineering and manufacturing facilities and an award-winning product range, we remain well positioned for the upturn in the economy.?
Tata-owned Jaguar has already propositioned the British government for financial aid, a testament to the difficulties for some of the premium brands in the UK market. Aston Martin has said, however, that it will not be chasing assistance.
Difficult though times may be, a rich heritage and a strong product portfolio will be enough - you would have to hope - to see Aston Martin emerge from these murky waters intact. (Shaken, not stirred...)