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F1 puts some staff on furlough, execs take pay cuts

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LONDON – With nearly half of the season already altered by the coronavirus pandemic, Formula One said Wednesday it will furlough half of its staff until the end of May and senior executives will take pay cuts.

F1 called off last month's Australian Grand Prix and has postponed seven more races so far this season. The Monaco Grand Prix was canceled outright.

More postponements are likely to turn into cancellations, but F1 has said it is still hoping to stage between 15 and 18 races out of the original 22.

F1 said senior leadership figures will take “voluntary pay cuts while still continuing to work and not in furlough," and that CEO Chase Carey will take a “much deeper” pay cut.

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United States
United States
Cases: 46 252 513
Deaths: 750 423
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India
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Brazil
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