Williams furloughs staff, management and drivers take pay cuts

Williams has confirmed it has placed a number of its Formula 1 staff on furlough as well as introducing pay cuts for its drivers and senior management members.

Williams furloughs staff, management and drivers take pay cuts

As the ongoing COVID-19 pandemic continues to impact F1, teams are anticipating financial difficulties onset by a lack of revenue due to the cancelled races.

McLaren was the first to officially announce last week it would be taking advantage of a government scheme that allows companies to furlough staff, paying 80% of wages up to £2,500 per month.

In a statement issued by Williams on Monday, the British team announced it had also started furloughing staff, as well as confirming pay cuts for a number of the senior team members, including drivers George Russell and Nicholas Latifi.

"Due to the ongoing situation involving COVID-19, ROKiT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures," the statement reads.

"The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from 1st April.

"These decisions have not been taken lightly, however our aim is to protect the jobs of our staff at Grove and ensuring they can return to full-time work when the situation allows."

Read Also:

Williams deputy boss Claire Williams previously said the team would look to "safeguard" its business, accounting for a loss of revenue from races being called off - the hosting fees for which fund F1 prize money.

Racing Point has also confirmed it has placed some staff on temporary furlough, with drivers Sergio Perez and Lance Stroll taking a voluntary pay cut.

However, the team said in a statement to Motorsport.com that it "won't be sharing numbers."

The F1 season is currently on hiatus as officials wait to see how the pandemic will impact further events, having already called off the opening eight races of the season.

The most recent statement from CEO Chase Carey said F1 was targeting a 15-18 race calendar starting over the summer, but doubts remain over the viability of the events in the coming months.

Carey is set to take part in a conference call with the bosses from all 10 F1 teams on Monday afternoon to give the latest updates on the situation.

shares
comments
The F1 tracks that could work in reverse

Previous article

The F1 tracks that could work in reverse

Next article

Why Vettel's Ferrari mission isn't over yet

Why Vettel's Ferrari mission isn't over yet
Load comments

About this article

Series Formula 1
Teams Williams
Author Luke Smith
The Barcelona practice times that prove Red Bull has hidden pace Prime

The Barcelona practice times that prove Red Bull has hidden pace

Lewis Hamilton led the way in Friday practice for the 2021 Spanish Grand Prix, but there was one major encouraging sign for Red Bull. However, making good on that gain will require Max Verstappen to avoid repeating a mistake that left him well down the FP2 order...

Formula 1
May 7, 2021
Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place Prime

Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place

Three points finishes from as many starts represents a decent opening innings on paper, but Daniel Ricciardo has endured a tough start to his McLaren career - only magnified his teammate's excellent form. Yet both he and the team have good reason to expect a turnaround soon.

Formula 1
May 6, 2021
What needs to “change” for Red Bull is ending Verstappen’s errors Prime

What needs to “change” for Red Bull is ending Verstappen’s errors

OPINION: Going up against the dominant force of Mercedes and Lewis Hamilton was always going to demand the best from Red Bull and Max Verstappen. But after making a couple more errors during the Portuguese Grand Prix, the Dutch driver showed there's a small gap he still needs to close in the 2021 Formula 1 title fight.

Formula 1
May 5, 2021
The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix Prime

The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix

Red Bull's Portuguese Grand Prix fortunes were decidedly second best to Mercedes', but the result skews the potential that the team had at Portimao. With a new set of updates, the team looks good going forward into the rest of 2021's spicy F1 competition

Formula 1
May 3, 2021
Portuguese Grand Prix driver ratings Prime

Portuguese Grand Prix driver ratings

The 2021 Portuguese GP will for several drivers go down as a weekend of missed opportunities amid imperfect track conditions that caused struggles with tyre warm-up. But the performances of a select few stood out from the crowd

Formula 1
May 3, 2021
The five key tests Hamilton passed to claim Portugal victory Prime

The five key tests Hamilton passed to claim Portugal victory

Just as he did in 2020, Lewis Hamilton had to come from behind to win the 2021 Portuguese Grand Prix. Only this time there were two rivals he had to pass, among the several challenges he had to overcome, on his way to securing a 97th grand prix victory

Formula 1
May 3, 2021
The data that leaves both Red Bull, Mercedes uncertain of supremacy Prime

The data that leaves both Red Bull, Mercedes uncertain of supremacy

Lewis Hamilton topped the crucial FP2 session on Friday as F1 returned to Portugal, but his Mercedes team cannot be sure it has the edge on its Red Bull rivals. As cool temperatures and wind combine with the still-slippery surface to present drivers with quandaries over set-up and tyre warmup, there's still everything to play for come qualifying.

Formula 1
May 1, 2021
How in-form Norris is staking his claim as Britain's next F1 champion Prime

How in-form Norris is staking his claim as Britain's next F1 champion

As a highly-rated Mercedes junior, George Russell is naturally billed as Lewis Hamilton's heir apparent where Britain's next Formula 1 champion is concerned. But he may face competition for that accolade from Lando Norris, fresh from a confidence-boosting run to third at Imola whose rise is being accelerated by his McLaren team’s revival

Formula 1
Apr 29, 2021