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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's upcoming hypercar officially named Valkyrie

For all of the awesome design and impressive promised performance of the upcoming hypercar from Aston Martin and Red Bull, it has had until now a terrible name. AM-RB 001 never really rolled off the tongue, nor did it evoke power and beauty like past Aston Martin names, such as Vanquish. But Aston has fixed that with the car's new name, Valkyrie. It's a solid name, one that comes from Norse mythology. Not only that, but it continues Aston's use of names starting with "V" (Vantage, Virage, Vulcan, et al). It's also way easier to say than the serial number that was the old name. We're looking forward to getting the full official specs, too. So far, we know it will have a V12, and the company is aiming for a one horsepower to one kilogram power-to-weight ratio, similar to that of the Koenigsegg One:1. We've also heard that Aston will sell just 175 cars, with each running about $3 million. Related Video:

Mercedes will still provide V8 engines to Aston Martin

News of Mercedes suspending sales of the vast majority of its V8-powered cars for the 2022 model year hit the presses about a week ago. However, what wasn’t explained then was the fate of Aston Martins with Mercedes-AMG V8 engines. Many Aston Martin products are powered by AMGÂ’s 4.0-liter twin-turbo V8 engine (the M 177 version affecting AMG products), and itÂ’s one of the motors that we reportedly wonÂ’t see in Mercedes-AMG products next year. Since AMG is struggling to fit its cars with its own engine, that brings into question Aston MartinÂ’s supply of V8s. Car and Driver got some answers from Aston, though, and the situation in the UK doesnÂ’t appear anywhere near as dire as in Germany. “Aston Martin confirms that its supply of V8 engines from Aston Martin AG is not affected," an Aston Martin spokesperson told Car and Driver. So there you have it. AstonÂ’s AMG V8-powered vehicles — Vantage, DB11 and DBX — will supposedly carry on sales without interruption. ThatÂ’s great news for Aston Martin and any uber-wealthy folks who intend to buy one.  At the same time, Mercedes isn't completely out of the V8 game for 2022. In fact, it's still selling cars that directly compete with Aston Martin: AMG GT Coupe and Roadster. Those Mercedes products use the M 178 version of the AMG V8 and are reportedly unaffected by supply issues. ThereÂ’s probably even more to this story as time passes, too. Mercedes has yet to officially acknowledge the stoppage of V8s — we reached out for comment when we published our initial story, but havenÂ’t heard confirmation back yet. When we do, weÂ’ll make sure to update you on whatÂ’s going on. Related video: