Formula 1 CEO Chase Carey cuts wages as more than 200 employees go on leave

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Last updated: 07/04/20 8:35 am

Chase Carey said F1 is fully committed to getting back on track as soon as possible

Chase Carey said F1 is fully committed to getting back on track as soon as possible

Formula 1 general manager Chase Carey is slated to receive a large but undisclosed salary cut, with around half of the 500 F1 employees on leave.

Formula One executives and executives, including general manager of motorsports and technical director Ross Brawn, are to receive a 20% pay cut for two months.

    McLaren drivers Lando Norris and Carlos Sainz were the first to benefit from pay cuts

McLaren drivers Lando Norris and Carlos Sainz were the first to benefit from pay cuts

Three F1 teams – Williams, Racing Point and McLaren – have already placed sections of their staff on temporary leave, each of their drivers receiving a pay cut.

F1 teams are officially in a period of factory closings three weeks after the end of the summer sports break.

This is currently taking place until the end of April, but should be extended amid the uncertain plans surrounding the start of the 2020 season.

The new campaign is currently only scheduled for at least mid-June due to the coronavirus pandemic.



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