News Details
Losing a team would be 'a big setback' for F1
Apr.7 Two more teams have joined McLaren in furloughing employees amid the coronavirus pandemic. "The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20 percent effective from 1 April," backmarker Williams announced. It is part of a British government scheme that pays employees 80 percent of their wages for a period. It is understood that Racing Point is following suit, as is the Liberty Media-run Formula 1 organisation. Haas is also believed to be considering a furlough. F1 CEO Chase Carey and sporting boss Ross Brawn have cut their salaries by 20 percent, the Daily Mail reports, with half of Formula One...
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