Massive job cuts at McLaren, F1 affected

Times are tough for the automotive industry, and not just for general manufacturers. McLaren Group announced on Tuesday May 26 a major restructuring, with 1 jobs lost (out of a total of 200) in all branches of the group (road cars, competition, technology). 

For the section Formula 1, staff will decrease by 10% with 70 fewer staff members In the coming months. Two official reasons explain these job cuts according to the British brand. On the one hand, the coronavirus crisis, but also the implementation of the budget cap of $145 million in 2021.

“McLaren Group has begun a restructuring program as part of a larger business to ensure its long-term success. » The information, revealed by Sky News earlier today, was confirmed by McLaren Executive Chairman Paul Walsh.

“We deeply regret the effect this restructuring will have on our employees, indicates the Welshman, who joined McLaren in March. This is a scenario that we have tried to avoid to the end, having already taken dramatic cost-saving measures in various sectors of our business. But now we have no choice but to reduce the size of our working force. 

McLaren Racing was a major player in the 2021 introduction of the cap budget in Formula 1, which will create a sustainable financial base for teams and bring more competitiveness to the sport.

Although this measure will have a significant impact on the shape and size of our F1 team, we are now starting to take the necessary steps to be ready to work under this budget control from 2021, with the aim of victories and titles in the future. »