London: British luxury carmaker Bentley on Tuesday said it plans to cut 275 jobs as it navigates tough market conditions and the transition to electric vehicles.
The reduction of roughly six percent of its workforce comes as Bentley, owned by Germany's Volkswagen, reported a sharp fall in operating profit and a dip in revenue last year.
"We are making some difficult decisions to ensure the long-term competitiveness of the business," chief executive Frank-Steffen Walliser said in a statement.
The company pointed to a "challenging global market environment," including weak sales in China and US tariffs, as well as a substantial hit from a one-off accounting effect.
Bentley had already pushed back its target of building only 100 percent electric models by five years to 2035.
The job cuts include 150 office-based roles, with the remainder accounted for by closed vacancies, expiring contractor roles and natural attrition.
Volkswagen last week announced plans to cut 50,000 jobs in Germany by 2030, also citing stiff Chinese competition, especially in electric vehicles, US tariffs and high costs.
More than 4,000 people are employed at Bentley's historic site in Crewe, northwest England, where it conducts all of its activities including design, R&D and production.
