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Aston Martin to cut 15 percent of workforce

Aston Martin has announced it will slash nearly 300 jobs, or about 15 percent of its total workforce, as part of a cost-cutting bid. The changes aren't going to come on the factory floor, though. Instead, according to the Unite trade union, the majority of firings will involve white collar employees – administrators, managers, and the like – at the company's headquarters in Gaydon, England, Bloomberg reports. In an emailed statement to the business outlet, Aston Martin said eligible employees will be offered early retirement options. While Aston said there'd only be 295 employees released, Unite put the number at no more than 314. "Collective consultation with employee representatives, including Unite, has begun and the company is working with them to minimize the risk of compulsory redundancies," the union told Bloomberg. Aston Martin added that this move will have no impact on the company's production figures, although it's unclear what it could mean for future vehicles, like the production DBX and upcoming DB11. Related Video:

Aston Martin to open test center at Silverstone, British racing's Mecca

LONDON — Aston Martin will open a test and development center at Silverstone, the home of British Formula One racing, as the luxury carmaker continues to expand ahead of a possible stock market offering. James Bond's car brand of choice is undergoing a turnaround plan designed to boost its model lineup, quadruple volumes and produce its first sport utility vehicle at a new plant in Wales. The firm, which sponsors the Red Bull Formula One team, said its Silverstone site would open in October and employ 60 people. Many Formula One teams have been based close to Silverstone in central England, leading the area to become known as motorsport valley. Silverstone hosted the first Formula One championship race in 1950. "The company is now investing for growth across the Aston Martin and Lagonda brands," said Chief Executive Andy Palmer in a statement, also announcing the opening of a central London office. Aston said the new locations would help increase the firm's total workforce by over half to 5,000 by the end of 2022. After six years of losses, Aston Martin swung to a pretax profit in 2017, and the company has said it is considering a stock market IPO, which sources have told Reuters could come as soon as this year. Reporting by Costas PitasRelated Video:

Aston Martin Vantage Roadster limited edition gets 100-year-old styling cues

Aston Martin's oldest-known car is turning 100 years old in 2021, and the British firm is celebrating the occasion with a limited-edition Vantage Roadster built by its Q division. It was commissioned by the company's oldest dealer. Located in Walton-on-Thames in England, distributor Aston Martin HWM worked with Q to bring some of the 1921 A3's design cues into the 21st century. The process was easier said than done considering the A3 and the Vantage share little more than four wheels, and creating a completely new car from the ground up was seemingly not an option.  Instead, the commemorative car is a Vantage Roadster that wears a specific grille with a black mesh insert, a bright aluminum frame, and a replica of the emblem fitted to the A3. It also gains redesigned fender inserts painted in a shade of gray that echoes the A3's hood and fitted with black strap above a "No_3" emblem. Most of the Vantage's exterior trim is black, and bronze brake calipers visible behind 20-inch wheels add a finishing touch to the look. Obsidian Black leather dominates the cabin, though Chestnut Tan inserts and stitching ensure the Vantage isn't fully blacked-out. One of the coolest design features found in this limited-edition convertible is the use of brass for three of the dials found on the center stack. They create a visual link between the 2021 Vantage and the 1921 A3. Aston Martin made no retro changes under the hood, which is just as well considering the A3 used a 1.5-liter four-cylinder engine rated at 11 horsepower. Power for the Vantage comes from a 4.0-liter V8 borrowed from Mercedes-AMG and twin-turbocharged to develop 503 horsepower and 505 pound-feet of torque. It spins the rear wheels via an eight-speed automatic transmission. Aston Martin quotes a 3.6-second sprint from zero to 60 mph and a top speed of 190 mph. For context, the A3 made headlines in 1923 by lapping the Brooklands track at 84.5 mph. The 1920s-inspired Vantage is on sale now, though Aston Martin chose not to reveal how many units will be made, how much each one will cost, and whether any will be sold in America. We've contacted the firm for more details. As for the A3, it's not for sale, even if you ask nicely and bring a big wad of cash; it's owned by the Aston Martin Heritage Trust. It will be shown at the annual Concours of Elegance taking place in September 2021 near London. Related video: Aston Martin DBX crossover review