Formula 1

Williams announce pay cuts due to coronavirus

1 Mins read
Credit: Octane Photographic Ltd.

Williams Racing have announced that drivers and senior management team will take a 20% pay cut as part of cost-cutting measures implemented due to the on-going coronavirus pandemic.

The pay cut has retrospectively been put into force from 1st April, and will last until the end of May.

The team have also temporarily furloughed several members of staff in an attempt to cut costs.

The statement reads: “Due to the ongoing situation involving Covid-19, ROKiT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures.

“The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from 1st April.

“These decisions have not been taken lightly, however our aim is to protect the jobs of our staff at Grove and ensuring they can return to full-time work when the situation allows.”

It is hoped that racing will be able to get underway in August, during the period which would usually be allocated to the mandatory summer shutdown.

Related posts
Formula 1

Robert Shwartzman Handed Ferrari Testing Opportunity in Abu Dhabi Young Driver Test

1 Mins read
Robert Shwartzman will participate in his first official Formula 1 test next month when he runs with Ferrari in the Young Driver Test in Abu Dhabi.
Formula 1

Williams to Field Jack Aitken and Roy Nissany in Abu Dhabi Test

1 Mins read
Jack Aitken and Roy Nissany will participate in the Young Driver test in Abu Dhabi next month for Williams Racing.
Formula 1

Russell Bemoans Drop in Performance after Second Pit Stop at Istanbul Park

2 Mins read
It was another pointless weekend for Williams in Turkey, with the team now having only three opportunities to take a top ten finish in 2020.

Leave a Reply