LONDON (Reuters) -- Aston Martin is planning job cuts as part of a restructuring that will involve the company expanding into electric vehicles and crossovers.
"There will be a net reduction in the overall workforce at the company," said a spokesman on Thursday, adding that the cuts would be "meaningful" without giving any figures.
The cuts will come from office staff, the spokesman said, but they will not affect any production staff at the automaker, which is based in Gaydon, central England. The automaker had a total workforce of about 2,100 people at the start of the year.
Aston Martin CEO Andy Palmer is trying to turn around the money-losing carmaker, which saw its sales nosedive after the 2007-08 financial crisis.
Aston Martin, which has suffered from not being part of a wider automotive group, posted a pretax loss of 25.4 million pounds ($39 million) in 2013, the latest figures available. Its former chief financial officer told Reuters last year he did not expect it to be profitable until after 2016.
The 102-year-old company in April raised 200 million pounds from its major shareholders, mainly Kuwaiti and Italian private equity groups, to help fund its model expansion plans, including its first crossover, which will be based on the DBX concept that debuted at this year's Geneva auto show. The crossover is expected to go on sale around 2019.
Aston Martin aims to use the car to attract more women and younger buyers to the brand, which has traditionally relied on a small, male audience.
Aston Martin won’t debut an all-new model until 2016, when the successor to the DB9 is expected be revealed.
A decision on the location of a new plant is also expected by year-end.
British Prime Minister David Cameron has lobbied for a site in Wales, whereas Palmer said earlier this year the "obvious choice" would be Alabama, where 5 percent shareholder Daimler already builds Mercedes-Benz SUVs.