LONDON: Formula One has put almost half its staff on furlough until the end of May due to the novel coronavirus with chairman Chase Carey and senior management also taking a pay cut, an F1 spokesman said yesterday.
Sources said those on furlough were mainly employees whose work was focused on race weekend activities and who could not carry out duties remotely. The Liberty Media-owned company employs in excess of 500 people.
The Formula One season has yet to start, with the March 15 season-opener in Australia cancelled along with the Monaco showcase in May.
Six other races have been postponed and Formula One hopes to start up some time in the European summer, conditions permitting, with a reduced schedule of 15-18 races.
The spokesman said the senior leadership team had voluntarily taken a 20 per cent pay cut but would remain at work while Carey, an American, had taken a bigger reduction.