McLaren to furlough staff due to Covid-19 pandemic

Coronavirus: McLaren announces pay cuts for F1 drivers and management

Carlos Sainz and Lando Norris have both taken voluntary pay cuts while a number of McLaren team members have been furloughed in response to the COVID-19 pandemic.

"The McLaren Group is temporarily furloughing a number of employees as part of wider cost-cutting measures due to the impact of the Covid-19 pandemic on its business", said an official spokesperson for McLaren.

The McLaren group, which includes the luxury carmaker and applied technology arm, employs nearly 4000 people.

The McLaren Group has also placed considerable numbers of its staff on the United Kingdom government's furlough scheme, whereby they are no longer required to work but they will receive 80% of their pay up to £2,500 and are guaranteed to return to their jobs when the crisis is over.

With the first eight races of the new Formula 1 season having been postponed or cancelled, teams are facing increased financial pressures because of the lack of track action.

Britain has ordered 10,000 of the breathing machines.

McLaren Racing boss Zak Brown also volunteered to take a pay cut. The mandatory factory shutdown period has been extended to three weeks and moved forward from August to be taken by the end of April, a spell that is likely to be extended in order to reduce overheads.

The team spokesman said British 20-year-old Norris and Spaniard Sainz were adamant they too wanted to play their part.

British finance minister Rishi Sunak announced last month that furloughed workers can claim 80% of their wages up to 2,500 pounds ($3,100) per month. The current chassis will also be used next year to save money.

McLaren boasts the second most successful Formula 1 team after Ferrari in terms of races and championships won.

Formula One teams, unless owned by vehicle manufacturers, derive much of their budget from the sport's revenues, prize money and sponsorship and face a major financial hit if races do not happen.



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