F1 staff placed on furlough, Carey takes pay cut

Formula 1 has placed over 200 of its staff members on furlough during the coronavirus pandemic crisis, while CEO Chase Carey has taken a pay cut.

The McLaren, Williams and Racing Point teams have all confirmed that they have laid off some staff, while its drivers will receive reduced pay.

Official F1 staff have now joined them, with Carey, along with F1 managing director Ross Brown, taking a 20% pay cut.

The start of the 2020 season has been delayed due to COVID-19, with the opening race of the year currently scheduled for mid-June in Canada.

Currently, the teams are involved in a factory shutdown period that is usually reserved for the summer, which is set to end on April 20th.

However, that period could last longer and seep into May with no end in sight on UK restrictions regarding the coronavirus.

MORE: Horner: Factory shutdown could be extended into May