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.

 
 Pandemic sees ROKiT Williams forced to take measures
 

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.

The ROKiT Williams Racing Team issued the following statement:

"Due to the ongoing situation involving Covid-19, ROKiT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures.

The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from 1st April.

These decisions have not been taken lightly, however our aim is to protect the jobs of our staff at Grove and ensuring they can return to full-time work when the situation allows."

With the pandemic creating a situation where Formula One has been forced to either cancel races of postpone them this has had a major impact on various team including Williams as they struggle to cope with the loss of revenue due to the fact that races are not going ahead. McLaren had previously gone down the same path taking advantage of a government scheme that allows companies to furlough staff, paying 80% of wages up to £2,500 per month.

 

pqs: qs:
Pandemic sees ROKiT Williams forced to take measures
Posted by: Williams F1 (IP Logged)
Date: 06/04/2020 14:20

What do you think? You can have your say by posting below.
If you do not already have an account Click here to Register.

Re: Pandemic sees ROKiT Williams forced to take measures
Posted by: Stu69 (IP Logged)
Date: 07/04/2020 08:05

Exactly the right thing to do to protect the business and the staff.

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!!)

Re: Pandemic sees ROKiT Williams forced to take measures
Posted by: IanSmithISA (IP Logged)
Date: 08/04/2020 05:23

Good morning,

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.

[www.mercedesamgf1.com]

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.

Bye

Ian



Edited 1 time(s). Last edit at 2020:04:08:07:02:15 by IanSmithISA.

Re: Pandemic sees ROKiT Williams forced to take measures
Posted by: Stu69 (IP Logged)
Date: 08/04/2020 19:55

In the real world of small business selling normal stuff and providing normal services like restaurants and shops... if the £2.5k wasnít available companyís would have just gone bust and the tax payer would have had to pick up the Pieces in unemployment benefit and the company would not have existed after this crisis to help rebuild what is left of the economy.

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!!

Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net