This week, McLaren announced it is restructuring and part of this, nearly a third of it’s workforce is being made redundant. McLaren has 4000 employees at the moment and 1,200 of them are now losing their jobs. Like most companies at the moment, McLaren is suffering as a result of the current coronavirus pandemic and this has had an impact on the company’s revenue.
Employees will be losing jobs in all areas of the business, across Applied, Automotive as well as the company’s racing side of the business. McLaren has said it has had to temporarily stop manufacturing new cars as well as the fact there are no motorsport events happening at the moment.
“We deeply regret the impact that this restructure will have on all our people, but especially those whose jobs may be affected. It is a course of action we have worked hard to avoid, having already undertaken dramatic cost-saving measures across all areas of the business. But we now have no other choice but to reduce the size of our workforce.”