Motorsport

F1 staff 'disgruntled' after being placed on furlough

2020-04-07 14:09
Chase Carey (Getty)

Over 200 of Formula 1's regular staff are 'disgruntled' after being placed on furlough during the Covid-19 lockdown, according to the Daily Mail.

Formula 1, and the world as a whole, is facing an unprecedented crisis.

As the coronavirus continues to wreak havoc around the globe, resulting in almost 75,000 deaths, countries remain in lockdown and the world's sport is on hold.

This has already led to the UK-based McLaren, Williams and Racing Point F1 teams announcing that they would take up the government's furlough option, putting staff on paid leave of which the UK government pays 80 per cent of their salaries.

Added to that both F1 teams said management and the drivers had taken pay cuts to help the teams survive financially.

Now Formula 1 has jumped on board.

According to the Daily Mail, F1 boss Chase Carey has 'slashed his own salary by 20 per cent as part of a major cost-saving operation in the organisation'.

Formula 1 has also put half of its 500 staff on furlough with the Mail reporting that 'regular staff are said to be disgruntled by their treatment'.

While no one knows exactly what Carey earns, it is said to be in the millions of pounds.

Carey has been joined on the pay cut list by 15 directors, including Formula 1 sporting boss Ross Brawn.

They will all take a 20 per cent cut for the next two months with the situation to be re-evaluated later.

Formula 1's finances have suffered a big blow in the last two months with shares on the Nasdaq plummeting to $19.97 last week. They have since recovered to $21.67.

The 2020 Formula 1 season is yet to get underway with Canada mooted as the opening race but a decision on that is expected later this week.

- TEAMtalk media

Read more on:    formula one  |  chase carey  |  coronavirus  |  motorsport

 

Read News24’s Comments Policy

 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

The 2019/20 Absa Premiership season is in full swing. Will Mamelodi Sundowns retain their title? Or can one of Kaizer Chiefs, Orlando Pirates, Wits, SuperSport United - or another team perhaps - snatch glory from the Brazilians? Be sure to visit Sport24 for all the latest news!

Latest blogs
Vote

Hypothetically, given the same cars to drive, who is the most talented current Formula One driver in your opinion?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.