Breaking News
Translate

McLaren drivers take pay cut amid cost-cutting measures

Kindly Share This Story:

McLaren

McLaren drivers Carlos Sainz and Lando Norris have taken voluntary pay cuts as part of a raft of cost-cutting measures to help the team survive the coronavirus crisis with Formula One in lockdown.

The British-based team will also use the UK government’s furlough scheme to guarantee 80 per cent of salary for staff up to a maximum of £2,500 ($3,000) a month.

READ ALSO: LASEMA confirms death of six in Epe road accident

“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,” said an official spokesperson for McLaren.

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

The opening eight Grand Prixs of the 2020 season have been cancelled or postponed due to the COVID-19 pandemic.

There is still hope the season can resume at a later date with F1 CEO Chase Carey optimistically aiming for a calendar of 15-18 races.

VANGUARD

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!