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UK supercar maker McLaren to cut 1,200 jobs amid coronavirus

UK supercar maker and Formula 1 team, McLaren, plans to cut more than a quarter of its workforce, after the coronavirus crisis hit sales and advertising revenue.

McLaren Group announced on Tuesday that it would cut 1,200 jobs, under a proposed restructuring program, as the vast majority will be in Britain.

The statement added that the cancellation of Formula-1 races, the suspension of manufacturing and retail activities around the world and reduced demand for technology solutions have led to a sudden impact on the group's revenue generating activities.

The move is expected to impact jobs across the group's applied, automotive and racing businesses.


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