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British car maker McLaren to axe 1,200 jobs due to coronavirus crisis

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www.mirror.co.uk

British car manufacturer McLaren is to axe a quarter of its workforce as the Covid-19 pandemic continues to hit the automotive industry.

The company - which specialises in supercars - has more than 3,700 employees worldwide, with thousands hired at its McLaren Technology Centre in Woking, Surrey.

The firm said in a statement that it has been "severely affected by the current pandemic". It went on: "The cancellation of motorsport events, the suspension of manufacturing and retail activities around the world and reduced demand for technology solutions have all led to a sudden impact on the group's revenue-generating activities." McLaren said the new annual spending cap for Formula One teams also led to the job losses.

Read more on mirror.co.uk
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