Coronavirus Outbreak: US-owned Haas become fifth Formula 1 team to furlough majority of employees, drivers take pay cuts

The formula1.com website said Haas drivers Kevin Magnussen and Romain Grosjean were also believed to have agreed to a pay cut.

Reuters April 12, 2020 00:00:48 IST
Coronavirus Outbreak: US-owned Haas become fifth Formula 1 team to furlough majority of employees, drivers take pay cuts

London: The US-owned Haas Formula One team have furloughed most of their British-based employees, meaning half of the grid has now taken similar measures in response to the new coronavirus pandemic.

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Haas team's Romain Grosjean and Kevin Magnussen have agreed to take paycuts. Reuters

McLaren, Williams, Racing Point and Renault had already furloughed staff.

Seven of the 10 teams are based in Britain, with only champions Mercedes and Red Bull yet to announce salary reductions.

The formula1.com website said Haas drivers Kevin Magnussen and Romain Grosjean were also believed to have agreed to a pay cut.

Under the British government’s furlough scheme, employers can claim for 80% of employees’ usual monthly wage costs up to 2,500 pounds ($3,068) per month.

Formula One teams are currently on a mandatory factory shutdown, brought forward from August in the hope of using the European summer to reschedule some of the postponed races.

The season has yet to start, and Formula One bosses are looking at a range of options, including holding races into the New Year if necessary.

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