Pandemic sees ROKiT Williams forced to take measures
By Andrew Hooper
April 6 2020
With the uncertainty of the 2020 Formula One season as it is impacted by the global COVID-19 pandemic the Williams has been forced to take action in regard to furloughing staff as well as various staff taking pay cuts. Those taking the pay cuts included the drivers as well as senior management at the team.
If you do not already have an account Click here to Register.
F1 needs to get a strategy sorted on the future and now before sponsors and economics make the decisions!!! They should order an economic stress test from each team and sponsor then make some decisions, based on Something like the below depending on results.
1) budget cap at £60mill for next 2 years
2) technology fix for 2021 and 2020 if it resumes
3) driver market freeze for 2021
4) racing behind closed doors if attended races are medically not possible.
5) free to air races for every race even if in delay.
Lots of intelligent people at the top of F1 but no one making strategic decisions. Come on catch up or the sport will die in the post apocalyptic new world!
(Mad Max will have the best name on the grid!!)
This was pretty much inevitable since the UK government announced its we will pay 80% of salary offer (up to £2.5k p.m.)
What is starting to get annoying though is that the scheme that was created with good intent seems to be being used to get the tax payer to pay those on lower salaries allowing whatever funds are available to be used to pay those whose salaries are well over the £2.5k per month.
Had the government scheme not existed and the only option were to actually lay the staff off I bet that wouldn't have happened.
Instead senior management would have been forced to accept that the company can't afford to offer the rewards for success and would have salaries chopped to enable the retention of key staff staff at lower levels.
A number of Premier League football clubs got a lot of bad publicity for doing a similar sort of thing.
On here we all know that Williams aren't rolling in cash but we also see McLaren and Racing Point furloughing staff. Racing Point's owners having just splashed out on buying a big chunk of Aston Martin and McLaren part of an apparently successful car group with a sovereign wealth fund as part owner.
This is only a few weeks after a whole bash of press releases saying F1 is state of the art and we can make medical equipment.
Indeed Mercedes are supplying CPAP masks, by reverse engineering an existing design.
and have made the design available to anyone
You could argue that Mercedes is the least "F1ish" of the teams, it is part owned by a multinational manufacturing company and they are the ones actually making the masks.
Edited 1 time(s). Last edit at 2020:04:08:07:02:15 by IanSmithISA.
As it is many companies have folded even with this scheme in place. In the real world of functioning companies there is already a credit crisis happening. Many companies dare not give credit as the worry about bad dept.
The government scheme is not perfect but it was produced in a couple of days and is massive, personally I Think they did a decent job under the circumstances although you always get some nutters who will abuse it just like some people are still sunbathing in parks!!
F1 teams are really not geared to mass produce stuff. Small batch yes, mass market no. Itís a big ask!!