Aston Martin to Cut Jobs and Go Electric/SUV

By Gary Cutlack on at

Posho carmaker of the super rich Aston Martin has announced a restructuring, revealing that it'll be cutting jobs in the UK to a fairly large degree -- while also investigating the weird world of the electric car and the urban SUV.

The news for the company's UK-based staff is mixed. Job losses are expected to come only from the administrative side of the business, leaving the assembly workforce untouched, but with CEO Andy Palmer saying the cuts will be "meaningful" there could be quite a few office workers heading for the gullwing door.

There's also mixed news for Aston enthusiasts, too. As well as a vague acknowledgement that the company is looking into hybrid or even electric models for future release, the carmaker is also said to be looking at moving into "crossover" vehicles that take design and styling cues from today's flood of fashionable-but-grim SUVs -- meaning there could be an Aston Martin equivalent of the likes of the Porsche Cayenne on the road within a few years, as the company attempts to return to profitability after a post-financial crisis sales slump. [Guardian]