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McLaren Group to lay off 1200 staff, including F1 team losses

McLaren have confirmed that they intend to lay off 1200 members of staff, including the Formula 1, from across the entire group. The McLaren Group is set to lay off some 1200 members of staff from across the organisation, in a bid to reduce their costs in the wake of the coronavirus pandemic. This figure of 1200 equates to around 25% of the total workforce of the McLaren Group, and will see redundancies shared across the road car division, McLaren Applied Technologies and the Formula 1 team. Last month, McLaren announced that it had placed some of its F1 staff on furlough as part of the Coronavirus Job Retention Scheme. Sky News reports that the F1 cost cap of $145 million set to be...
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