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McLaren axes 1200 jobs in company restructure
McLaren will lay-off 1200 of its staff across its automotive, technological and racing divisions, the company announced on Tuesday. Following from reports two weeks ago that the company was attempting to raise funds amidst financial difficulties due to the COVID-19 pandemic, the company has now combined those measures with extensive cost-cuts. Per a report from motorsport.com, only 70 of the 1200 staffers cut are from McLaren's Formula 1 division. 'It is a course of action we have worked hard to avoid, having already undertaken dramatic cost-saving measures across all areas of the business,' said Paul Walsh, executive chairman of the McLaren Group. 'But we now have no other choice but to...
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