McLaren drivers take pay cut amid cost-cutting measures

Carlos Sainz and Lando Norris take voluntary pay cuts to help the team survive the COVID-19 crisis.

In this picture taken on March 12, technicians work around equipment and car parts in the the McLaren team pit at the Australian Grand Prix in Melbourne. The opening eight GPs of the 2020 season have been cancelled or postponed due to the COVID-19 crisis.   -  AP

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 U.K. government’s furlough scheme to guarantee 80 percent of salary for staff up to a maximum of GBP 2,500 (USD 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.

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“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.

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