AM Job Cuts

[oilit]

https://www.hellorayo.co.uk/hits-radio/coventry/ne...

Really sorry to hear this, and hope the staff are looked after and find alternate roles quickly.

[Minglar]

oilit said:

https://www.hellorayo.co.uk/hits-radio/coventry/ne...

Really sorry to hear this, and hope the staff are looked after and find alternate roles quickly.

Sorry to read this too, but the timing is interesting, as three weeks today the FY 2025 Results are due to be released. BRM.

[Simpo Two]

'ongoing drive to optimise its cost base' = save money. I wish they would speak English; it would save them so much typing.

[Jon39]

Minglar said:

oilit said:

https://www.hellorayo.co.uk/hits-radio/coventry/ne...

Really sorry to hear this, and hope the staff are looked after and find alternate roles quickly.

Sorry to read this too, but the timing is interesting, as three weeks today the FY 2025 Results are due to be released. BRM.

Always sad when cost cutting is forced upon any business.
Aston Martin have highly skilled employees, so experience, and expertise will be lost by the Company and morale suffers too.

As Richard points out, the 2025 full year results will soon be announced, so we can ponder reasons for the timing of this announcement. My wild guess therefore:-

Cost cutting suggests tighter financial control.
Investors like to hear that, when there is no alternative.
Could it be, that investors will be asked to dip into their wallets again.
Possibly a rights issue announcement on results day?

A random thought about cost cutting.
Operating St Athan appears to be a major unneccessary cost, simply because Gaydon has the capacity for the entire AML production.
Perhaps there is a problem though. I think a 25 year lease was signed, so maybe no early exit possible.

.....................

A couple of videos that might be of interest.

https://youtu.be/pp3TZhVMQtg?si=VOvPZmvVQxsLNYpb
Matt Watson is thrilled driving the Vanquish.
He makes a financial remark towards the end, about the AM's price contribution. His initial career was as a qualified accountant.

https://youtu.be/KgenAxnrIDk?si=s3E6coFEb5EW03uX
Hundreds of brand new vehicles abandoned in USA.
Funny where the presenter, not a car enthusiast, is puzzled by the manufacturer and concludes it must be European. -

[oilit]

I suspect if they close St Athen or have severe cuts to staff numbers they may have to repay the welsh government, may be easier to close Gaydon if they cant get sales =>capacity