Coronavirus Outbreak: Formula 1 team Renault furlough majority of staff until end of May, management to take pay cuts
London: Renault have furloughed most of their British-based Formula One race team until the end of May due to the COVID-19 pandemic, with management also taking a pay cut, the French carmaker announced on Friday.
Renault said the engine factory at Viry-Chatillon in France had moved to a part-time schedule from 6 April for a provisional 12 weeks.
“Renault Sport Racing has decided to retrospectively apply for the Job Retention Scheme set up by the British government,” it said in a statement.
“The vast majority of Enstone staff will effectively have a total shutdown (furlough) until 31 May. This will be reviewed dependent on the development of the situation.”
Renault, whose F1 drivers are Australian Daniel Ricciardo and Frenchman Esteban Ocon, said it would top up the amount allocated by the government to guarantee a minimum of 80% of actual salary for all team members.
“Salaries of active staff, including management, will be reduced in the same proportions,” it added.
Three other British-based teams — McLaren, Williams and Racing Point — have already announced they are furloughing staff with drivers also taking pay cuts.
Renault are the first manufacturer-owned team to do so, however.
Team boss Cyril Abiteboul said it was hard to measure the eventual impact of the crisis on the sport, with France and England in lockdown along with most Grand Prix organising countries.
“We, therefore, must use all the measures at our disposal to get through this prolonged period of uncertainty and inactivity as best as we can, while protecting the whole team we have built over the past four years,” he said.
The carmaker cancelled its dividend on Thursday and said its chairman and interim chief executive officer had agreed to pay cuts, to help finance a solidarity fund for staff affected by the coronavirus crisis.
Updated Date: Apr 11, 2020 00:03:52 IST
Tags : Coronavirus, Coronavirus Pandemic, COVID, COVID-19, COVID-19 Cases, COVID-19 Pandemic, Cyril Abiteboul, Daniel Ricciardo, Esteban Ocon, f1, Formula 1, Renault, Renault Sport Racing, SportsTracker
COVID-19 Social Distancing: Study suggests 6 feet is not enough, virus can travel up to 20 feet
When can India expect to achieve herd immunity?
International Women’s Health Day 2020: Eight sexual health commandments for every woman to live by
Hypertension: How a hormone called aldosterone may have been the cause of your high blood pressure
Review study suggests vitamin D may not be a predictor of COVID-19 deaths, unlike previously thought
Can artificial sunlight kill the COVID-19 causing virus?
Coronavirus Outbreak Updates: 2,091 people test positive for COVID-19 in Maharashtra today; confirmed cases rise to 54,758 in state
Coronavirus Outbreak Updates: Mumbai reports 1,382 new COVID-19 cases; confirmed infections rise to 25,317
Coronavirus Outbreak Updates: Junior assistant in Delhi LG's office tests positive for COVID-19; samples from 40 staff members taken
Coronavirus Outbreak Updates: 459 people test positive for COVID-19 in Pune today, total number of cases rises to 6,153
Coronavirus Outbreak Updates: Railways will partially restore train services from 1 June, says Centre; bookings for 200 trains to begin tomorrow
Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494