Bentley to cut jobs ahead of long-delayed EV rollout

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non-factory employees. Bentley framed the cuts as an efficiency measure tied to its next phase of growth, but it's a significant move for the small British company that’s part of the Volkswagen Group (VWAGY).“We are making some difficult decisions to ensure the long-term competitiveness of the business, including an organisational adjustment,” Bentley CEO Frank-Steffen Walliser said in a statement.Customer deliveries fell 5% during the year, driven largely by continued market weakness in China. Despite this, Bentley still reported an operating profit of 216 million euros ($247.8 million) on revenue of 2.6 billion euros ($2.98 billion) for 2025, with an operating return on sales (a measure of profit margin) of 8.3%.Bentley’s ability to squeeze more revenue per vehicle through personalization and higher trims, like its S variants, helped boost margins. Revenue fell 1%, but stronger pricing, model mix, and sustained growth in bespoke Mulliner demand helped offset lower volumes.A Bentley Bentayga Speed luxury performance SUV on display at the AutoSalon press preview on Jan. 09, 2026, in Brussels, Belgium. (Sjoerd van der Wal/Getty Images) · Sjoerd van der Wal via Getty ImagesRead more: How to find the best luxury car insuranceWalliser flagged weakness in China and the overall high-end consumer market to Yahoo Finance in November, when he described the luxury market as still mired in “uncertainty” — particularly in the US and Europe, but especially in China.Bentley’s decision to reduce headcount was labeled a way to ensure “long-term competitiveness" of the business, but it comes as the company begins the next phase of its EV rollout.Under its Beyond100+ strategy, Bentley had committed to being exclusively electric by 2030, a target that was pushed back to 2035, and then the company pivoted, stating it would still sell plug-in hybrids alongside EVs beyond that timeframe.Read more: Buying an electric car? What to know about EV insurance costs.While the company remains on track to launch its first EV next year, Walliser noted it had “a lot of work to do” to convince its customers to go full EV.Bentley’s Volkswagen Group stablemate Lamborghini is also finding that its owners are shunning EVs in the rarefied air of ultraluxury automobiles.Lamborghini CEO Stephan Winkelmann confirmed in February that the Italian brand was killing off its Lanzador EV, initially slated for a 2028 release but pushed back numerous times.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,725.86 +26.48 (+0.40%)Dow 3047,106.23 +159.82 (+0.34%)Nasdaq22,481.24 +107.06 (+0.48%)Russell 20002,518.06 +14.77 (+0.59%)VIX22.45 -1.06 (-4.50%)Gold5,010.40 +8.20 (+0.16%)Trending tickersADBE Adobe Inc. 255.05 +3.19 (+1.27%)BTC-USD Bitcoin USD 74,294.74 +557.32 (+0.76%)XYZ Block, Inc. 60.37 +0.52 (+0.87%)ULTA Ulta Beauty, Inc. 526.49 +9.75 (+1.89%)RBRK Rubrik, Inc. 52.63 +0.96 (+1.86%)PortfolioSign in to access your portfolioSign inTop gainersTSAT Telesat Corporation 42.88 +7.38 (+20.80%)LMND Lemonade, Inc. 67.22 +9.48 (+16.42%)ESLT Elbit Systems Ltd. 998.42 +123.92 (+14.17%)SEI Solaris Energy Infrastructure, Inc. 64.79 +7.80 (+13.68%)NP Neptune Insurance Holdings Inc. 24.07 +2.07 (+9.41%)Top losersTME Tencent Music Entertainment Group 11.60 -3.49 (-23.16%)NBIS Nebius Group N.V. 115.44 -14.42 (-11.10%)CRDO Credo Technology Group Holding Ltd 104.88 -12.00 (-10.27%)ASO Academy Sports and Outdoors, Inc. 50.67 -5.84 (-10.33%)FRPT Freshpet, Inc. 68.60 -6.77 (-8.98%)Most activeNVDA NVIDIA Corporation 182.60 -0.58 (-0.32%)INTC Intel Corporation 44.29 -1.47 (-3.22%)ONDS Ondas Inc. 10.89 +0.36 (+3.37%)AAL American Airlines Group Inc. 10.85 +0.36 (+3.45%)PLUG Plug Power Inc. 2.2950 +0.0550 (+2.46%)Top economic eventsEarnings eventsMy earnings eventsEarnings events