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Williams furloughs staff, cuts driver salaries by 20%
Following the lead of McLaren, Williams have become the second team to officially furlough most of its staff, while also announcing a 20% reduction in the salaries of high-level personnel. Announcing the decision in a statement on Monday, the team cited the financial realities of the ongoing coronavirus pandemic as necessitating such a measure. The statement, in full, reads as follows: 'Due to the ongoing situation involving Covid-19, ROKiT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures. 'The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from...
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5y ago from GrandPrix247.com
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