Formula 1

McLaren to Cut 1,200 Jobs due to COVID-19

1 Mins read
Credit: Octane Photographic Ltd.

McLaren has announced that they will be cutting 1,200 jobs due to the impact of COVID-19, these include some in the McLaren F1 Team.

The Supercar manufacture and Formula 1 team are said to employ around 4,000 and due to the global pandemic of the Coronavirus, their business in sales and advertising revenue has declined.

With this, the F1 team will see some cuts, as the 2020 FIA Formula 1 World Championship currently remains on hiatus with its expected to return at the Austrian Grand Prix, in July.

The team of around eight hundred in F1 is set to lose around seventy members. However, this could see a decrease in size further when the 2021 Budget Caps come into place, which was agreed by all teams across the sport.

The sport-wide budget caps will mean McLaren are not the only team to reduce size as bigger teams such as Mercedes AMG Petronas, Aston Martin Red Bull Racing and Scuderia Ferrari will also have to make these cuts to the team or reallocate staff on to other projects.

McLaren was one of the only teams in Formula 1 to report COVID-19 cases within the paddock as they withdrew from the Australian Grand Prix due to a member of the team contracting the virus.

McLaren chairman Paul Walsh explained, in a statement, how the pandemic has affected the team and company saying, “We now have no other choice but to reduce the size of our workforce. This is undoubtedly a challenging time for our company, and particularly our people, but we plan to emerge as an efficient, sustainable business with a clear course for returning to growth.

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