Aston Martin secures £550 million loan to fund car projects
Business
Aston Martin just scored a hefty £550 million loan to help get its finances back on track and fund future car projects.
The move comes after a tough year: think big losses thanks to US tariffs and slower sales in China.
Aston Martin to cut 600 jobs
To save cash, Aston Martin is cutting 600 jobs (mostly in the U.K.), aiming to trim about £40 million from yearly costs.
CFO Doug Lafferty says this new funding gives them more breathing room and flexibility for upcoming plans.
We'll get a clearer picture of their progress when they share half-year results on July 29.