Williams, Racing Point furlough staff as drivers take pay cut
Both teams announce cost-slashing moves a week after McLaren opted to take same financial measuresLONDON: Williams and Racing Point became the latest Formula One teams to furlough staff due to the coronavirus as their drivers also agreed to take pay cuts on Monday. Formula One’s 2020 season has been delayed because of the pandemic and Williams and Racing Point announced their cost-cutting moves a week after McLaren opted to take the same financial measures. “Due to the ongoing situation involving COVID-19, ROKiT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures,” a Williams statement said. “The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from 1st April. “I can now confirm that some of the team’s staff have been placed on temporary furlough,” a Racing Point spokesperson told AFP.
Source: The Express Tribune April 06, 2020 15:22 UTC
