The British supercar maker said it expects to make around 1,200 people redundant as part of a restructuring plan.
McLaren is planning to lay off around 1,200 people as part of a proposed company restructure.
British supercar firm McLaren has announced plans to lay off 1,200 staff, or roughly 25% of its workforce. McLaren said it had been "severely" impacted by the pandemic, adding that the cancellation of motorsport events, the suspension of manufacturing and retail, and reduced demand for technology had all hit its revenue.
"It is a course of action we have worked hard to avoid, having already undertaken dramatic cost-saving measures across all areas of the business. But we now have no other choice but to reduce the size of the workforce."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jay-Z's Top 25 Deep Cuts: Critic's Picks | BillboardThere aren’t that many stones left unturned when talking about a three-decade career that includes 22 Grammys, 14 No. 1 albums, multiple one-liners and slogans embedded in the pop-culture lexicon, numerous decade-end list entries, and a music video shot at the Louvre with Beyoncé. Jay-Z has been getting his roses.
Read more »
25 Cleaning Products That May Make You Think, 'Where Have You Been All My Life?'Catch me slow-dancing to K-Ci & JoJo's 'All My Life' with my bottle of multi-surface spray.
Read more »
The 25 Best Queen Songs (Updated 2018) | BillboardHere’s a list of the top 25 best Queen songs to date.
Read more »
25 Homemade Salsa Recipes That’ll Always Beat the Jarred StuffThese are the secret sauce(s) we’re stocking our fridges with all year round.
Read more »
Virtual Concerts & Livestreams: Week of May 25While various parts of the country are beginning to open up again for the holiday weekend, artists are still staying busy entertaining fans the week of May 25.
Read more »
On this day... May 25(Reuters) -
Read more »