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Formula One carmaker McLaren cuts 1,200 jobs amid Covid-19 crisis

Group is seeking to raise £275m after racing season and supercar sales ground to a halt

McLaren Group, the Formula One team owner and maker of supercars, is cutting 1,200 jobs as it seeks to weather the impact of the coronavirus crisis on the automotive industry.

The cuts, which amount to more than a quarter of the Surrey-based company’s 4,000 workforce, were first reported by Sky News. The job losses will be spread across the company’s Formula One, road-car and applied technologies operations.

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