Aston Martin has confirmed it will be axing 20% of its workforce, with the firm's net losses jumping 52% last year to £493.2m.
The luxury car firm, synonymous with James Bond, has struggled for several years and blamed US president Donald Trump's tariffs in a statement made last month.
Aston Martin, which has its headquarters in Gaydon, Warwickshire, employs about 3,000 people, meaning job losses will total around 600.
The firm said the job cuts should deliver annual savings of around £40m and did not specify when the job cuts would be implemented, but said most of the savings would be made this year.
A spokesperson for Aston Martin said US tariffs had been "extremely disruptive" and demand had also been "extremely subdued" in China, the world's biggest auto market.
