.LONDON/NEWDELHI SPF25 SPO-F1-MCLAREN-SALARY McLaren Drivers Take Pay Cut Amid Cost-cutting Measures
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.
London, Apr 2 (AFP) 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 percent of salary for staff up to a maximum of ?2,500 ($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. AFP
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