close global

Welcome to GPFans

CHOOSE YOUR COUNTRY

  • NL
  • GB
  • IT
  • ES-MX
  • US
  • 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

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

Marshal reacts after being SLAPPED by angry racer following crash

Marshal reacts after being SLAPPED by angry racer following crash

  • 9 minutes ago
Former F1 boss admits 'beating themselves' up over trying to save team

Former F1 boss admits 'beating themselves' up over trying to save team

  • 1 hour ago
Lewis Hamilton admits 'relentless' pursuit of change left Ferrari shaken

Lewis Hamilton admits 'relentless' pursuit of change left Ferrari shaken

  • 2 hours ago
Red Bull and Honda F1 partnership kept alive thanks to odd contract clause

Red Bull and Honda F1 partnership kept alive thanks to odd contract clause

  • 3 hours ago
George Russell issues emotional Toto Wolff statement amid Mercedes struggles

George Russell issues emotional Toto Wolff statement amid Mercedes struggles

  • Today 18:58
Honda chief reveals Aston Martin 'not satisfied' as engine giants call for more time

Honda chief reveals Aston Martin 'not satisfied' as engine giants call for more time

  • Today 17:57

Just in

22:55
Marshal reacts after being SLAPPED by angry racer following crash
21:57
Former F1 boss admits 'beating themselves' up over trying to save team
20:53
Lewis Hamilton admits 'relentless' pursuit of change left Ferrari shaken
19:52
Red Bull and Honda F1 partnership kept alive thanks to odd contract clause
18:58
George Russell issues emotional Toto Wolff statement amid Mercedes struggles
F1 news

Recommended by the editors

Lewis Hamilton admits 'relentless' pursuit of change left Ferrari shaken Lewis Hamilton

Lewis Hamilton admits 'relentless' pursuit of change left Ferrari shaken

2 hours ago
Red Bull and Honda F1 partnership kept alive thanks to odd contract clause Latest F1 News

Red Bull and Honda F1 partnership kept alive thanks to odd contract clause

3 hours ago
F1 News Today: Lewis Hamilton suffers title blow as George Russell reveals injury incident F1 News Today

F1 News Today: Lewis Hamilton suffers title blow as George Russell reveals injury incident

Today 16:12
Honda chief opens up on Aston Martin partnership and why 2026 has been a major struggle Aston Martin

Honda chief opens up on Aston Martin partnership and why 2026 has been a major struggle

Today 09:55
Ontdek het op Google Play
x