McLaren confirms 1,200 job losses
McLaren has announced it will cut more than a quarter of its workforce after admitting revenues have been severely affected by the coronavirus.
It has said 1,200 of the 4,000-strong workforce will be made redundant, most of whom are UK-based.
Chairman Paul Walsh said: “We now have no other choice but to reduce the size of our workforce. This is undoubtedly a challenging time for our company, and particularly our people, but we plan to emerge as an efficient, sustainable business with a clear course for returning to growth.”
