Day: June 4, 2020

McLaren set to make mass redundancies

McLaren is to make around 1200 staff redundant across its automotive, technology and racing teams as part of a major restructuring of the business.

The move has come in the wake of the coronavirus pandemic and the imminent arrival of a cost cap in Formula 1 from next year.

The Woking-based outfit has taken a financial hit from the pandemic, which has affected car sales hard and forced the F1 season to be suspended.

The team announced on Tuesday that it was to begin a consultation period with staff to finalise the steps that would be taken, but a statement said it expected there to be 1200 redundancies across the group.

It is understood that around 70 staff will be cut from the F1’s operation, but final details have not been sorted out yet.

Paul Walsh, executive chairman of the McLaren Group said: “We deeply regret the impact that this

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