McLaren axe 25% of staff

[Welshbeef]

Coronavirus: Supercar maker McLaren axes quarter of workforce
http://news.sky.com/story/coronavirus-supercar-mak...

[Mezzanine]

I blame JayEmm.

[BevR]

Mezzanine said:

I blame JayEmm.

If only they had bought him off with a 720S then all this could be avoided!

In all seriousness this is terrible news, no one (especially James) will be happy to hear this. Am I right in thinking that the car manufacturing and racing divisions are the same company and not separated to protect one from the folding of the other? So this could also have impacts on the racing side?

[Carbon Sasquatch]

Not sure if they are a single company or not, but it's being reported as cuts across both.

[ralphrj]

BevR said:

If only they had bought him off with a 720S then all this could be avoided!

In all seriousness this is terrible news, no one (especially James) will be happy to hear this. Am I right in thinking that the car manufacturing and racing divisions are the same company and not separated to protect one from the folding of the other? So this could also have impacts on the racing side?

The car company (McLaren Automotive Limited) and the F1 team (McLaren Racing Limited) are separate companies but both are owned by McLaren Holdings Limited.

[Liokault]

anonymous said:

[redacted]

And Absolute Taste, making 4 companies run from Woking. I think it’s only going to be cutting from Cars and Applied.

Looking at how many of my friends from other auto oem’s have joined McLaren in the last few years, I’m going to have a painful Facebook news stream for a 2hile.

[hyphen]

Welshbeef said:

Coronavirus: Supercar maker McLaren axes quarter of workforce
http://news.sky.com/story/coronavirus-supercar-mak...

End of furlough pay, 45 days notice for redundancies, many companies will all be at it.

[ralphrj]

Liokault said:

anonymous said:

[redacted]

And Absolute Taste, making 4 companies run from Woking. I think it’s only going to be cutting from Cars and Applied.

Looking at how many of my friends from other auto oem’s have joined McLaren in the last few years, I’m going to have a painful Facebook news stream for a 2hile.

Absolute Taste was sold back in 2016.

McLaren Applied, as it is called now, is the 3rd trading arm of McLaren but is also struggling (losses of £20m in FY19).