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Norris and Sainz take pay cuts as McLaren furlough staff

Norris and Sainz take pay cuts as McLaren furlough staff



Norris and Sainz take pay cuts as McLaren furlough staff

Norris and Sainz take pay cuts as McLaren furlough staff

Formula 1 stars Carlos Sainz and Lando Norris have volunteered to take pay cuts alongside McLaren's decision to furlough staff in light of the coronavirus crisis.

McLaren has become the first of F1's seven UK-based teams to accept the government's furlough scheme.

A significant number of the Woking-based organisation's 850-strong workforce will take temporary unpaid leave from next week, albeit retaining their job.

The government will then pay 80% of the salaries of those employees, up to a maximum of £2,500 per month until such time as they return to work.

Those employees not furloughed have all agreed to take pay cuts, and include drivers Sainz and Norris, CEO Zak Brown and team principal Andreas Seidl.

A McLaren statement read: "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.

"These measures are focused on protecting jobs in the short-term to ensure our employees return to full-time work as the economy recovers."

McLaren has not divulged the number of employees on furlough, nor the percentage pay cut for those who continue to work.

It is fully expected a number of other teams will swiftly follow suit as they protect themselves from the financial losses that can be expected due to the coronavirus pandemic.

At present, eight races have either been cancelled or postponed, with those throughout June and July in Canada, France, Austria and Britain all expected to follow suit.

While it is F1 CEO Chase Carey's stated aim to still stage 15-18 races over the second half of the year, such a remark is looking overly ambitious. The fewer the number of races, the smaller the pot for the teams at the end of the season.

McLaren, as was the case when it opted to withdraw from the season-opening Australian Grand Prix when a team member tested positive for Covid-19, has again taken bold and decisive action to protect its employees.


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Mon 25 May

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