News Details
McLaren Group records £175million revenue drop
The McLaren Group has posted a revenue loss of £175million for the first quarter of this year compared to the same period in 2019. The figures obviously provide the backdrop to the company's announcement earlier this week that 1,200 staff are to be made redundant, representing a 30% reduction from its current 4,000-strong workforce across its three divisions of Racing, Automotive and Applied. Article continues under video Overall revenues have fallen from £284m in the first quarter of 2019 to £109m this year, while EBITDA [earnings before interest, taxes, depreciation, and amortisation] have dropped from £22m to £-80.5m. The main shortfall comes from Automotive as vehicle sales,...
Full Story »
Full Story »
5y ago from GPFans.com
0
You May Also Be Interested In...
McLaren Group to cut workforce, F1 jobs set to be lost
McLaren Group has confirmed that it is planning to reduce
its headcount...
5y ago from MotorsportWeek.com
When Italy mourned the loss of its favorite son
On this day in 1955, the Italian nation and motorsport mourned the loss...
5y ago from F1i.com
McLaren Group to lay off 1200 staff, including F1 team...
McLaren have confirmed that they intend to lay off 1200 members of staff,...
5y ago from FormulaSpy.com
McLaren cutting 1,200 jobs
In the 'not good news' file this morning, McLaren is cutting over a...
5y ago from TheParcFerme.com
Elsewhere On The Network
Popular On MGPToday.com
MotoGP exploring options to return to China after...
MotoGP series promoter Dorna is reportedly considering a return to China...
5h ago from MotorsportWeek.c...
Why KTM would be wise to prepare for a future without...
No description available...
1d ago from Motorsport.com
Jorge Lorenzo shares his ‘theory' on the cause...
Five-time MotoGP champion Jorge Lorenzo believes that multiple factors...
5d ago from MotorsportWeek.c...
Miguel Oliveira: I did my best to stay in MotoGP but...
No description available...
4d ago from Motorsport.com
Popular On IndyCarToday.com
Aggressive testing schedule planned ahead of Mick...
Following confirmation Mick Schumacher will make a switch to IndyCar next...
6d ago from MotorsportWeek.c...
Mick Schumacher joins RLL in IndyCar switch
Rahal Letterman Lanigan Racing has announced that Mick Schumacher will...
1w ago from MotorsportWeek.c...
Mick Schumacher hails IndyCar racing as "the way...
No description available...
6d ago from Motorsport.com
Mick Schumacher makes IndyCar switch with RLL in 2026
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
Why WRC drivers thought Rally Saudi Arabia was too...
No description available...
1d ago from Motorsport.com
Ott Tanak looking forward to break from full-time...
No description available...
2d ago from Motorsport.com
Sebastien Ogier on matching Sebastien Loeb’s record...
No description available...
2d ago from Motorsport.com
Popular On GunnersToday.com
Mikel Arteta hails ‘more reliable’ Arsenal squad...
t;li>Manager confident squad-building lessons learned He hopes Havertz...
3h ago from TheGuardian.com
Arsenal vs Brentford preview: Saliba, Trossard to be...
No description available...
4h ago from SkySports.com
Arsenal latest: Arteta to speak ahead of Brentford...
No description available...
6h ago from SkySports.com
Press conference questions + A trophy in December
Morning all. It's pretty non-stop at the moment, and Mikel Arteta will...
7h ago from Arseblog.com
Comments
Hottest News
Racing Bulls announces revised F1 driver line-up for 2026
Racing Bulls has revealed Liam Lawson will... Read More »
39m ago from MotorsportWeek.com
Yuki Tsunoda has Plan B issue after discovering Red Bull...
Yuki Tsunoda has hinted at the outcome of Red... Read More »
5h ago from GPFans.com
F1 News Today: Yuki Tsunoda discovers Red Bull secret as...
Yuki Tsunoda has hinted at the outcome of Red... Read More »
1h ago from GPFans.com
