christophulus
19th August 2009, 10:04
http://joesaward.wordpress.com/2009/08/18/a-bad-time-to-be-in-formula-1/
There are reports that the Formula 1 teams have agreed to widespread job losses throughout the industry. The only good news is that with three new teams joining the World Championship in 2010, some of those who will be laid off will be able to find work elsewhere.
The number of staff allowed in each team is rumoured to be reducing to a maximum of 350 next year, with a further drop to 280 in 2011. Apparently this will largely depend on whether or not the team is buying in parts from external suppliers. However as the budgets are coming down dramatically the teams will be negotiating for better deals from suppliers and so they will be under pressure to reduce their prices in order to survive.
Most teams have already been cutting back on staff this year with test teams being laid off and aerodynamic development teams also being cut back significantly but as some of the teams started the year with more than 650 employees, it is going to be a painful business.
Can't see any of the new teams being in a position to take on a few hundred highly paid redundant staff. At least there's a commitment to cost cutting which is the only way to avoid more pull-outs but I feel for all those who are going to lose their jobs to achieve this.
There are reports that the Formula 1 teams have agreed to widespread job losses throughout the industry. The only good news is that with three new teams joining the World Championship in 2010, some of those who will be laid off will be able to find work elsewhere.
The number of staff allowed in each team is rumoured to be reducing to a maximum of 350 next year, with a further drop to 280 in 2011. Apparently this will largely depend on whether or not the team is buying in parts from external suppliers. However as the budgets are coming down dramatically the teams will be negotiating for better deals from suppliers and so they will be under pressure to reduce their prices in order to survive.
Most teams have already been cutting back on staff this year with test teams being laid off and aerodynamic development teams also being cut back significantly but as some of the teams started the year with more than 650 employees, it is going to be a painful business.
Can't see any of the new teams being in a position to take on a few hundred highly paid redundant staff. At least there's a commitment to cost cutting which is the only way to avoid more pull-outs but I feel for all those who are going to lose their jobs to achieve this.