The McLaren Group will lay off around 1.200 workers due to the crisis caused by the coronavirus pandemic, including 70 employees from the Formula 1 team.
The company employs about 4.000 people, and of the 1.200 redundant people, most of them are from Great Britain.
McLaren said it was "severely affected by the crisis" and that the company was working hard to cut costs and avoid layoffs.
"But now we have no choice but to reduce our workforce," CEO Paul Walsh said, the BBC reported.
The car manufacturing company operates from Woking and also has its technology center in Sheffield.
About 1 people work in the McLaren Formula 800 team, and 70 of them are expected to be laid off.
McLaren improved last season, after restructuring the team under the leadership of Zach Brown. The team finished the championship in fourth place, which is its best result since 2012.
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