F1 and Racing Point have joined in to furlough some of its employees while the senior management/drivers will take a pay cut amid COVID-19 pandemic.
After McLaren and Williams, even F1 and Racing Point have furloughed certain of its employees along with pay cuts for their senior management and drivers. Neither released a statement announcing the moves but have undertaken the step already.
On the F1 side of things, as per BBC Sport, the senior figures including Chase Carey and Ross Brawn, will have 20 percent off their salaries for two months, with the former to take a bigger cut than the rest. No one will benefit from the furlough system.
Instead, the half of the employees, who have been furloughed, will utilise the UK Government’s relief measure as seen with McLaren, Williams and also Racing Point. The report noted that F1 teams have received first part of their 2019 prize money income.
On the other hand, when asked by FormulaRapida.net, Racing Point confirmed about certain staff members being furloughed, while it added that both Sergio Perez and Lance Stroll will take a pay cut as well – no details were provided other than the above.
Not just F1, the teams and also race promoters have been hit hard with no grand prix happening and the 2020 season start under a fix due to COVID-19 pandemic. For now, Canadian GP is said to be the first race but it is likely to be postponed too.
The same is being said about French GP as well – an official confirmation on either is yet to be made. Outside this, the seven UK-based F1 teams have done exceptionally well to aide the Government under ‘Project Pitlane’, similar to Ferrari helping in Italy.
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