Aston Martin recently delayed its first electric vehicle amid weakening EV demand. But that delay may have also hinted at some money troubles underneath the surface, as Aston revealed this week that it’s now over $1 billion in debt and needs to cut jobs.

Aston Martin has cut 170 jobs after losses widened by a fifth last year and fewer cars were sold in 2023 following a string of supply chain issues and production delays. The luxury auto manufacturer,

The luxury automaker will cut 5% of its workforce to save 25 million pounds, its chief executive said on Wednesday.