Aston Martin to Cut Staff by 14%

Aston Martin Lagonda Ltd. says it will trim its 2,100-member workforce by as many as 295 to reduce costs.

The iconic British luxury performance car maker has provided no timetable for the cuts. It aims to achieve most of the reduction through early retirement offers and by not filling current job openings.

Aston Martin insist its production and sales plans remain unchanged. The company has struggled for years to establish sustainable profitability. Its most recent all-new model, the Vanquish sport coupe, debuted two years ago.

The company is looking for sites to build its first crossover vehicle, a four-seater inspired by the DBX concept car it unveiled at the Geneva auto show in March. The car is slated to go into production in about four years. Its next new model, a successor to the DB-9 coupe, is due in 2016.