Lando Norris and Carlos Sainz take pay cut as McLaren put some staff on furlough
McLaren are the first Formula 1 team to put some of their staff on furlough, meaning they must take an enforced absence from work due to the impact of the coronavirus pandemic, while drivers Carlos Sainz and Lando Norris have taken a voluntary pay cut.
The salary reduction will affect all employees who remain at work, including CEO Zak Brown and senior management as the iconic British team move to protect jobs.
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In a statement, McLaren said: “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.”
The staff placed on furlough will not work for an initial period of three months.
In unprecedented measures announced last month, the British government said they would pay 80% of salaries for staff who are kept on by their employer, covering wages up to £2,500 per month.
Most of the F1 teams are currently on a three-week mandatory shutdown, which was brought forward to the spring from the summer and extended by a week in part to help to reduce the financial burden on the teams while the calendar is on hold.
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The coronavirus has delayed the start of the 2020 season and forced a series of race cancellations and postponements.
F1’s rulemakers are currently working on plans with regards the season restarting, with F1 CEO Chase Carey saying last month: “we and our partners fully expect the season to start at some point this summer, with a revised calendar of between 15-18 races”.
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