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Bentley Slashes Jobs, Retreats on EV Strategy

Financial Times Companies •
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Bentley plans to eliminate 275 roles, approximately 6% of its workforce, as the Volkswagen-owned luxury brand navigates turbulent times. Chief executive Frank-Steffen Walliser confirmed the cuts reflect broader industry pressure and cost management priorities amid falling profits. The move comes as Bentley reported a 42% year-on-year decline in operating profit to €216mn for 2025.

The luxury automaker is significantly scaling back its electric vehicle ambitions after halting development of a new EV platform intended for Bentley, Porsche and Audi. Bentley pushed its EV-only sales target from 2030 to 2035 and will continue selling plug-in hybrids beyond that date. Walliser acknowledged "renewed interest in the internal combustion engine" as the company aims for a "balanced portfolio" including EVs, hybrids, and selective petrol models.

Bentley's vehicle sales fell 4.8% to 10,131 units in 2025, with its operating profit margin dropping to 8.3% from 14.1% in 2024. Despite the decline, the margin remains the second highest in the luxury segment after Ferrari's 29.5%. The job cuts mirror broader industry trends, with rival Aston Martin announcing similar workforce reductions of up to 20% amid mounting losses and shifting consumer preferences.