News Details
McLaren Group records £175million revenue drop
The McLaren Group has posted a revenue loss of £175million for the first quarter of this year compared to the same period in 2019. The figures obviously provide the backdrop to the company's announcement earlier this week that 1,200 staff are to be made redundant, representing a 30% reduction from its current 4,000-strong workforce across its three divisions of Racing, Automotive and Applied. Article continues under video Overall revenues have fallen from £284m in the first quarter of 2019 to £109m this year, while EBITDA [earnings before interest, taxes, depreciation, and amortisation] have dropped from £22m to £-80.5m. The main shortfall comes from Automotive as vehicle sales,...
Full Story »
Full Story »
5y ago from GPFans.com
0
You May Also Be Interested In...
McLaren Group to cut workforce, F1 jobs set to be lost
McLaren Group has confirmed that it is planning to reduce
its headcount...
5y ago from MotorsportWeek.com
When Italy mourned the loss of its favorite son
On this day in 1955, the Italian nation and motorsport mourned the loss...
5y ago from F1i.com
McLaren Group to lay off 1200 staff, including F1 team...
McLaren have confirmed that they intend to lay off 1200 members of staff,...
5y ago from FormulaSpy.com
McLaren cutting 1,200 jobs
In the 'not good news' file this morning, McLaren is cutting over a...
5y ago from TheParcFerme.com
Elsewhere On The Network
Popular On MGPToday.com
Why Dani Pedrosa won't replace Maverick Vinales at Le...
No description available...
9h ago from Motorsport.com
Toprak Razgatlioglu: Yamaha struggles make me think...
No description available...
14h ago from Motorsport.com
Andrea Iannone returns to MotoGP paddock in...
No description available...
12h ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar officiating board helps shape Push to Pass...
IndyCar’s new Independent Officiating Board has made one of its first...
9h ago from MotorsportWeek.c...
IndyCar expands Push to Pass availability
The NTT IndyCar Series has announced a change to the series’ Push to...
10h ago from MotorsportWeek.c...
FOX unveils plan for 60 hours of Indy 500 coverage
No description available...
1d ago from Motorsport.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
How Ott Tanak can help Toyota's WRC 2027 car...
No description available...
13h ago from Motorsport.com
Why Hyundai’s WRC season “really starts” at...
No description available...
1d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
6d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
Player ratings: Arsenal 1-0 Atletico Madrid
Arsenal reached the Champions League final for the first time in 20 years...
2h ago from FreshArsenal.com
'I can tell you' – Journalist confirms Man...
Manchester United are currently leading the race to sign Atalanta’s...
2h ago from CaughtOffside.com
'Let this be a lesson', 'Monstrous performance' -...
Arsenal fans are delighted with the performance of Viktor Gyokeres in the...
2h ago from SportsKeeda.com
Arsenal see off Atlético Madrid and feel gnawing fear...
newly found belief Mikel Arteta’s side have shown has now carried them...
2h ago from TheGuardian.com
Comments
Hottest News
F1 News Today: Christian Horner return welcomed as Newey...
Christian Horner has been given an open... Read More »
4h ago from GPFans.com
Lewis Hamilton plays the 'shrimp', Aston Martin in 'a deep...
Last weekend's Miami Grand Prix saw Kimi... Read More »
4h ago from GPFans.com
Adrian Newey builds rocket ship faster than any F1 car, but...
Adrian Newey's F1 genius has contributed to a... Read More »
6h ago from GPFans.com
