Coronavirus: McLaren Drivers Take Pay Cut Amid Cost-Cutting Measures
The opening eight Grand Prixs of the 2020 season have been cancelled or postponed due to the COVID-19 pandemic.
Highlights
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The British-based team will also use the UK government's furlough scheme
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There is still hope the season can resume at a later date
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The McLaren Group is temporarily furloughing a number of employees
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 $3,000 a month.
"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.
McLaren
Carlos Sainz Jr.