News Details
McLaren braced for painful restructuring amid cost cap
McLaren
has backed the changes made to Formula 1’s Financial Regulations but says the restructure
will lead to the “painful task” of reducing headcount. Formula 1 confirmed on Wednesday that the budget cap, initially set for $175m for 2021, will instead be introduced at $145m, with further $5m reductions across the following two years. McLaren
had been a primary force in wanting the cap reduced and earlier this week
confirmed that approximately 1,200 staff, from a total of 4,000, will be made
redundant, across its entire Group. ADVERTISEMENT It
is expected that around 70 of those personnel will be from the Formula 1
operations. Related Posts Sliding scale for windtunnel...
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