Bentley Slashes A Quarter Of Its Workforce Due To Covid-19 Shutdown

Bentley went official with the announcement and confirmed it will cut 1,000 jobs to compensate for lost revenue and production during the shutdown of its UK plant. The company said staff will be initially reduced through voluntary layoffs but did not rule out compulsory departures.

“Losing colleagues is not something we are treating lightly but this is a necessary step that we have to take to safeguard the jobs of the vast majority who will remain,” Bentley CEO Adrian Hallmark said in a statement.
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mre30 - 6/5/2020 12:28:46 PM

+1 Boost

Aside from the COVID shutdowns and production disruptions - the crazy riots throughout the US this past week, many targeting luxury retailers and even "the wealthy", might make people question whether its socially acceptable to be flashy with their money at a time like this.

I suspect Bentley, Rolls, Lambo sales will soften long term as a result of a coming shift in consumer sentiment.

The MB, BMW, Lexus brands are more mainstream (anybody can "lease luxury" in America these days) so they will not be impacted as much, IMO

supermoto - 6/5/2020 3:06:35 PM

+1 Boost

mre30, that's what happened after the financial crisis 10 years ago. Conspicuous consumption was shunned for a while. Then people got sick of it and spent more money than ever. The same thing will happen with this downturn.

MDarringer - 6/5/2020 3:45:48 PM

0 Boost

Bentley was already having issues because of building its ugly porcine messes before the China virus.