The automaker says that “up to 300 permanent, and a similar number of temporary jobs” could be cut as the company looks to dramatically reduce its cash outflow.

“Like other premium car brands, Aston Martin has been forced to take action to respond to the unprecedented downturn in the global economy,” Aston Martin CEO Ulrich Bez said in a statement. “These are regrettable but necessary measures in the extraordinary market conditions we all now face.”

Aston Martin sales plummeted 19 percent through the first three quarters of 2008, according to Automotive News, slightly better than the ultra-luxury segment’s decline of 21 percent.

Aston Martin Lagonda Limited is a British manufacturer of luxury sports cars, whose headquarters is at Gaydon, England. Aston Martin employs 1,850 workers worldwide.

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