McLaren says to cut 1,200 jobs owing to pandemic
4 years, 7 months ago

McLaren says to cut 1,200 jobs owing to pandemic

The Hindu  

British Formula 1 team and supercar maker McLaren said on Tuesday it plans to cut 1,200 jobs after the coronavirus crisis hit sales. “We deeply regret the impact that this restructure will have on all our people, but especially those whose jobs may be affected,” the group's executive chairman Paul Walsh said in a statement. “It is a course of action we have worked hard to avoid, having already undertaken dramatic cost-saving measures across all areas of business,” Walsh said. “But we now have no further choice but to reduce the size of our workforce.” McLaren is a grand name in British racing that has produced cars featured in James Bond movies and bred winners of Formula 1 races since the 1960s.

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McLaren drivers take pay cut amid cost-cutting measures
4 years, 9 months ago

McLaren drivers take pay cut amid cost-cutting measures

The Hindu  

McLaren drivers Carlos Sainz and Lando Norris have taken voluntary pay cuts as part of a raft of cost-cutting measures to help the team survive the coronavirus crisis with Formula One in lockdown. “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,” …

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