Aston Martin to cut one-third of staff

Aston Martin is set to axe around a third of its workforce as a result of falling sales.

The luxury car maker has announced plans to cut 300 of its permanent staff, with an equal number of contracted workers also losing their jobs.

'Like other premium car brands, Aston Martin has been forced to take action to respond to the unprecedented downturn in the global economy,' said CEO Ulrich Bez.

'These are regrettable but necessary measures in the extraordinary market conditions we all now face.'