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
Jorge Lorenzo shares his ‘theory' on the cause...
Five-time MotoGP champion Jorge Lorenzo believes that multiple factors...
3d ago from MotorsportWeek.c...
Miguel Oliveira: I did my best to stay in MotoGP but...
No description available...
3d ago from Motorsport.com
How Aprilia believes it “overreached our target”...
No description available...
3d ago from Motorsport.com
Toprak Razgatlioglu aims to challenge Fabio Quartararo...
No description available...
5d ago from Motorsport.com
Popular On IndyCarToday.com
Aggressive testing schedule planned ahead of Mick...
Following confirmation Mick Schumacher will make a switch to IndyCar next...
5d ago from MotorsportWeek.c...
Mick Schumacher joins RLL in IndyCar switch
Rahal Letterman Lanigan Racing has announced that Mick Schumacher will...
6d ago from MotorsportWeek.c...
Mick Schumacher hails IndyCar racing as "the way...
No description available...
5d ago from Motorsport.com
Mick Schumacher makes IndyCar switch with RLL in 2026
No description available...
6d ago from Motorsport.com
Popular On TotalWRC.com
Ott Tanak looking forward to break from full-time...
No description available...
1d ago from Motorsport.com
Sebastien Ogier on matching Sebastien Loeb’s record...
No description available...
1d ago from Motorsport.com
What Elfyn Evans was missing in his 2025 WRC title...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
The US love of football is reaching new levels. Just...
New York mayor-elect’s devotion to a north London club shows how the...
24m ago from TheGuardian.com
‘Too nice sometimes' – Theo Walcott wants...
Former Arsenal attacker Theo Walcott feels that the Gunners missed a huge...
3h ago from CaughtOffside.com
Mikel Arteta issues important injury update concerning...
Arsenal have been dealt a worrying injury setback as William Saliba is set...
3h ago from CaughtOffside.com
Willian reacts as Reece James’ performance helps...
Willian lauded Reece James' performance in Chelsea's 1-1 draw against...
3h ago from SportsKeeda.com
Comments
Hottest News
F1: Call me Chucky, says Verstappen
Max Verstappen responds to Zak Brown's claim that... Read More »
54m ago from Pitpass.com
F1 rivals express surprise at McLaren strategy slip-up in...
Max Verstappen recalled his realisation that... Read More »
54m ago from MotorsportWeek.com
Red Bull decide on new Max Verstappen team-mate for F1 2026
It has been a period of speculation for some... Read More »
2h ago from RacingNews365.com
