Aston Martin to cut 500 jobs as sales slump due to COVID-19 pandemic

British luxury carmaker Aston Martin has planned to cut 500 jobs, about a fifth of its workforce, because of a slump in sales due to coronavirus pandemic. It's also cutting costs in other areas, including contractor numbers, marketing and travel. The layoffs come days after Aston Martin said Tobias Moers, Mercedes-AMG CEO, will join as chief executive on August 1.