Quote:
Originally Posted by Mike Harte
The BBC are reporting that only about 70 of the 1200 to lose their jobs will be from the F1 team. However, further job losses from the team are expected next year following the FIA mandated budget cuts. Something that will also be replicated by some/many of the other teams.
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Article above says same. I was thinking mostly about McLaren as a whole. Using the numbers above (4000 vs. 1200) that is 30%, but other sources are reporting 25% cut. Given it sounds like the 4K number is approximate and the 1200 is probably more accurate, I assume total employed is roughly 4800? Not sure where the discrepancy is when reported by different news agencies (total number or percentage cut).
Regardless, 25% or 30% that is a huge cut. Also, while they break out F1, I think McLaren group is three components. F1, Automotive and Electronics (McLaren Applied make the standard ECU for example)
The F1 side took a smaller percentage hit, so the remainder took a larger hit. I can imagine the Automotive side going bankrupt? With debtors being owners looking for their adjustment via residual guarantee? Would McLaren Automotive have had some type of insurance policy to cover a shortage on the residual or did they carry that risk fully?
Richard