Formula 1

Racing Point join Formula 1's furlough group, Perez and Stroll take pay cuts

Ian Parkes Monday 6 April 2020 17:32 Updated: 18:37

Racing Point join Formula 1's furlough group, Perez and Stroll take pay cuts

Racing Point has added its name to the growing list of Formula 1 teams to place staff on furlough, while drivers Sergio Perez and Lance Stroll have volunteered to take pay cuts.

Last week, McLaren became the first of F1's seven UK-based teams to take advantage of the UK government's furlough scheme.

The government has agreed to pay 80% of the salaries of those employees on furlough, up to a maximum of £2,500 per month until such time as they return to work.

In addition, drivers Lando Norris and Carlos Sainz, along with senior staff members, all agreed to take pay cuts.

On Monday, Williams followed suit, with staff placed on furlough, while drivers George Russell and Nicolas Latifi have agreed to a 20% reduction in their salary.

Racing Point has swiftly done likewise, with confirmation to GPFans that "some staff have now been placed on temporary furlough", while "the drivers will also take a voluntary pay cut".

No details have been revealed as to how many of the 465-strong workforce have been furloughed, nor the percentage of the cut.

It is expected the other four teams in Mercedes, Red Bull, Renault and Haas will soon also take similar cost-cutting measure to safeguard the jobs of their employees.

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Racing Point join Formula 1's furlough group, Perez and Stroll take pay cuts

Racing Point join Formula 1's furlough group, Perez and Stroll take pay cuts