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McLaren is the first F1 team to cut salaries

McLaren is the first F1 team to restore its staff during the Coronavirus crisis and their drivers, Carlos Sainz and Lando Norris, suffered a wage cut.

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McLaren is the first F1 team to cut salaries
Fuente imagen: motorlat.com

Part of the McLaren team will have to go through a forced period of absence, while those who remain at work will have their wages reduced.

The two drivers of the English team, Carlos Sainz and Lando Norris, have agreed to receive the same wage reduction as the other staff members.

All Formula 1 teams are trying to find the best way to protect themselves from this pandemic. It should be added that some concerns about how the teams will be financially affected start to grow.

As announced by the McLaren spokesman, the team is trying to stay afloat by firing part of the employees so that they can manage payments easily.

“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.”

McLaren has therefore decided to act in this way, becoming the first team to take drastic measures in an attempt to protect staff in the "short-term".

We can say that the McLaren strategy can be called "smart" since the British government recently introduced a job retention regime due to COVID-19 which allows companies to apply for a subsidy covering 80% of a fired employee’s salary up to £ 2,500 per month.

On the other hand, none of the seven UK-based teams have announced a drastic measure like this, but they are engaged with the government to help develop and manufacture life-saving medical devices.

All Formula 1 teams are currently going through a three-week halt period that continues to change due to the virus in circulation, which has led to a delay in departure for the F1 2020 season.


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