Temporary dismissal is two months, from April to May
Senior executives Nicholas Latifi and George Russell lower their salaries by 20%
Second team, after McLaren, to announce a coronavirus regulation of its workforce
The Williams team has announced that it will carry out the British equivalent of an ERTE as a result of the coronavirus crisis. This will initially last two months and will affect several employees. In addition, managers and pilots will have their salary reduced by 20%.
Formula 1 has once again demonstrated that it is no stranger to the serious economic consequences of the coronavirus pandemic. Williams is the second team on the grid to apply for unpaid leave for a number of its employees. The team has communicated this decision, but has not specified the number of workers affected by this measure.
In addition, the team announces that its senior managers and pilots, Nicholas Latifi and George Russell, will lower their salaries by 20% during this period.
“Due to the current coronavirus situation, ROKiT Williams Racing is temporarily firing a number of employees as part of a wide variety of spending cut measures. The layoff period will last until the end of May. In addition, senior executive positions and our pilots accept a 20% pay cut from April 1, “Williams said in a statement.
“These decisions have not been made lightly. However, our goal is to protect the jobs of our staff at Grove and to ensure that we can return to full-time work when the situation allows,” they add.
In the United Kingdom, where Williams has his factory, workers whose jobs are temporarily suspended in these circumstances will have access to a subsidy to collect during this time 80% of their salary with a maximum of 2,500 pounds per month.
Just today a team leaders’ meeting is scheduled to discuss the limit at which they set the budget ceiling. Large teams warn of the wave of layoffs that will cause the drop in expenses and smaller teams warn that many more jobs will be lost if two or three teams go bankrupt.
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