In an exclusive interview with Auto Express, Aston Martin chief executive Andy Palmer has said that the site for a new factory to build the new Crossover model could be situated in one of two locations in the UK.
He said that the new factory, which should be operational by late 2017, would eventually create several hundred new jobs. Aston will decide between two sites in the UK or one in America, although it also had three other sites that were ‘outside bets’.
A decision on where the factory will be opened will be made before Christmas. However, Aston Martin is set to cut up to 300 jobs before Christmas this year as part of a major restructuring.
• James Bond's Aston Martin DB10
Palmer said the current workforce of 2,100 had to be reduced: “There is never a good time to cut jobs, but this is what has to be done.
“Our workforce has doubled since 2007 but we are building half the number of cars, it does not make sense. We need to make our processes more efficient with less people, we are fixing the business.”
Figures just out reveal why it is necessary, though. Turnover for Aston Martin in the last year fell from £455million to £443million, and profits also dropped from £5.4million down to £2.5million, largely due to the slump in China, where luxury car firms have been badly hit.
The firm is now consulting with its unions but Palmer said that no production workers would lose their jobs, saying they would be lost in administration and technical areas.
At the same time, Aston is enjoying exposure across the world as 007 drives its DB10 model in Spectre. Andy Palmer admitted the timing was “frustrating”.
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