LONDON — British supercar manufacturer McLaren Group, which includes the Formula One team, will cut 1,200 jobs under a proposed restructuring program as it deals with the fallout from the COVID-19 pandemic.
The move is expected to impact jobs across the group’s applied technology, automotive and racing businesses, the company said in a statement on Tuesday.
The cancellation of motorsport events, the suspension of manufacturing and retail activities around the world and reduced demand for technology solutions have hurt the group’s revenue generating activities, the company said.
