close global

Welcome to GPFans

CHOOSE YOUR COUNTRY

  • NL
  • GB
  • GB

Are you a F1 Fan? Follow GP Fans

Edition

NL GB IT ES-MX US

Carey takes pay cut as F1 furloughs staff

Photo: © LAT Images

Carey takes pay cut as F1 furloughs staff

McLaren, Williams and Racing Point have already adopted similar measures

Google Make us your Google favorite

Chase Carey has agreed to take a voluntary pay cut, while around half of all Formula 1 staff have been placed on furlough.

Three teams in McLaren, Williams and Racing Point have already adopted the same measures, with F1 doing likewise to ensure that as a business it survives the current crisis.

F1 Group CEO and chairman Carey's cut is undisclosed, although it is understood to be a minimum 20%, while other senior figures, including managing director of motorsports Ross Brawn, are believed to be at 20%.

As an organisation, F1 has a 500-strong workforce across two locations in London and Biggin Hill, with between 200 to 250 of those now on furlough.

The government scheme protects jobs, with employees being paid 80% of their monthly salaries, up to a maximum of £2500 per month, until such time as they are able to return to work.

Related

More F1 news

Latest F1 news

Red Bull reveal bizarre issue with spec part as Supercars launch investigation

Red Bull reveal bizarre issue with spec part as Supercars launch investigation

  • 25 minutes ago
Daniel Ricciardo reveals which F1 driver he's closest to, and which one ignores his texts

Daniel Ricciardo reveals which F1 driver he's closest to, and which one ignores his texts

  • 1 hour ago
Lance Stroll tipped for stunning Aston Martin exit over performance issues

Lance Stroll tipped for stunning Aston Martin exit over performance issues

  • 2 hours ago
FIA penalty points update delivered to Charles Leclerc and another F1 rival during summer break

FIA penalty points update delivered to Charles Leclerc and another F1 rival during summer break

  • 3 hours ago
Lewis Hamilton back with Angela Cullen for intense training during F1 summer break

Lewis Hamilton back with Angela Cullen for intense training during F1 summer break

  • Today 18:44
F1 star reveals unique Silverstone total eclipse story

F1 star reveals unique Silverstone total eclipse story

  • Today 17:27

Just in

22:30
Red Bull reveal bizarre issue with spec part as Supercars launch investigation
21:44
Daniel Ricciardo reveals which F1 driver he's closest to, and which one ignores his texts
20:55
Lance Stroll tipped for stunning Aston Martin exit over performance issues
19:45
FIA penalty points update delivered to Charles Leclerc and another F1 rival during summer break
18:44
Lewis Hamilton back with Angela Cullen for intense training during F1 summer break
F1 news

Recommended by the editors

Daniel Ricciardo reveals which F1 driver he's closest to, and which one ignores his texts F1 News & Gossip

Daniel Ricciardo reveals which F1 driver he's closest to, and which one ignores his texts

1 hour ago
Lance Stroll tipped for stunning Aston Martin exit over performance issues F1 News & Gossip

Lance Stroll tipped for stunning Aston Martin exit over performance issues

2 hours ago
Lewis Hamilton back with Angela Cullen for intense training during F1 summer break F1 Off the Track

Lewis Hamilton back with Angela Cullen for intense training during F1 summer break

Today 18:44
Williams F1 team boss James Vowles reveals insane workload: 'I don't think this is sustainable' F1 News & Gossip

Williams F1 team boss James Vowles reveals insane workload: 'I don't think this is sustainable'

Today 09:50
Ontdek het op Google Play
x