Renault became the latest Formula One team to furlough staff as the sport continues to wrestle with the huge financial setbacks caused by the coronavirus pandemic. The French manufacturer said “the vast majority of staff (at their base at Enstone in the UK) will effectively have a total shutdown until May 31”, in a statement. Staff at the team’s engine site at Viry-Chatillon on the outskirts of Paris will be placed “on a part-time schedule for a provisional period of 12 weeks”.
Renault join grid rivals Williams, Racing Point and McLaren in furloughing staff after nine of the scheduled 22 races in the world championship were either cancelled or postponed. The season will not start until the French Grand Prix on June 28 at the earliest.
“It was agreed to top-up the amount allocated by the British government to guarantee a minimum of 80 percent of the actual salary for all team members,” said a Renault statement in reference to the job retention scheme in the UK.
“Salaries of active staff, including management, will be reduced in the same proportions.” Renault team chief Cyril Abiteboul said the measures were necessary to safeguard the team. “We must use all the measures at our disposal to get through this prolonged period of uncertainty and inactivity as best as we can,” he said.
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