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Renault commits to F1 despite job cuts
Renault will stay in Formula 1 despite making major job cuts as a wider company, according to the French car manufacturer’s interim CEO Clotilde Delbos. In response to massively declining new car sales due to the COVID-19 pandemic, and following the Carlos Ghosn scandal, Renault will cut some 15,000 jobs as it searches to find 2 billion ($2.23b) in savings over the next three years. The announcement of those cutbacks had led to speculation regarding its future in Formula 1, but Delbos says the team remains committed as new regulations make it a more attractive proposition. “F1 we said publicly, and we confirm that we intend to stay in Formula 1,” Delbos said. “Actually the news...
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