Aston Martin is “rebalancing and restructuring” its business which could result in up to 314 redundancies.

The luxury brand based in Warwickshire is still expected to expand its model range with a new SUV model.

Unite, the UK’s largest union, says it opposes any compulsory redundancies. It understands the vast majority of jobs affected will be in salaried staff roles such as administration, professional and managerial areas largely based at the company's main Gaydon, Warwickshire manufacturing site.

Aston Martin currently has a total workforce of 2,100.

Unite says it opposes any compulsory redundancies.

Unite regional officer Tim Parker said: “Aston Martin has two priceless assets: its global brand name as a British world-class producer of iconic luxury sports cars and, just as importantly, their highly skilled world-class workforce that contribute massively to the design and production of these fabulous cars.

“We believe that both of these priceless assets are equally important in securing a successful future for this iconic British UK based world-class business.”

Unite is currently in talks with Aston Martin over the total number of job losses in the reorganised structure.

He said: “Unite is opposed to any compulsory redundancies and insist that any job losses should only take place by means of voluntary redundancies, early retirements and ending the use of external consultancy contract staff.”