Steiner: Haas not hoarding money by furloughing staff

Haas team principal Guenther Steiner denies that his team is hoarding money by placing its staff on furlough and seeking government benefits amid the coronavirus pandemic.

The American outfit is one of several UK-based teams that has laid off its staff and applied for the government scheme that sees furloughed personnel paid 80% of their wages.

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Steiner insists that all measures are being done to ensure that the employees will have jobs when they are free to return to work.

“You never take it [the news of furlough] well, but most of our people understand why we are doing it,” Steiner told Formula1.com.

“This is not to cut them short, it’s to make sure they have a job in the future. There is nothing malicious, we’re not being cheap or trying to hoard money.

“We try to do the best we can. A lot of people who have lost their jobs. [in other industries]. So long as we can keep the jobs, that is what we try to do.”

There is concern over the long-lasting impact that coronavirus could have on the teams, with Zak Brown stating that up to four F1 teams could drop from the grid.

Williams deputy team principal Claire Williams recently asserted that going racing in 2020 is critical for her team's survival in F1.

“It hurts every business,” Steiner added. “We have very limited income. FOM tries to help. But we don’t know if we go back racing.

“I personally think we will but you have to plan for the worst, that we have no income from FOM. And if we have no income someone needs to pay – and those funds are limited. It wouldn’t be right to pay if nothing has happened.”