Supercar maker McLaren to cut 1,200 jobs across group amid pandemic

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VIDEO SHOWS: FILE FOOTAGE OF MCLAREN 765LT, MCLAREN CHIEF EXECUTIVE OFFICER, MIKE FLEWITT, THE MCLAREN PRODUCTION LINE, FILE FOOTAGE OF VARIOUS MCLAREN CARS ON DISPLAY, FILE FOOTAGE OF THE MCLAREN F1 2020 CAR AND DRIVERS

SHOWS:

WOKING, ENGLAND, UNITED KINGDOM (FILE - MARCH 3, 2020) (REUTERS - ACCESS ALL)

1. NEW MCLAREN 765LT BEING UNVEILED

2. VARIOUS OF THE MCLAREN 765LT

3. MCLAREN CHIEF EXECUTIVE OFFICER, MIKE FLEWITT, POSING FOR PHOTOGRAPHS

4. CLOSE OF WHEEL

5. VARIOUS OF THE MCLAREN 765LT ON DISPLAY

WOKING, ENGLAND, UNITED KINGDOM (FILE) (REUTERS - ACCESS ALL)

6. PRODUCTION LINE INSIDE MCLAREN FACTORY

7. VARIOUS OF WORKERS INSIDE MCLAREN FACTORY

8. VARIOUS OF MCLAREN CARS BEING INSPECTED

WOKING, ENGLAND, UNITED KINGDOM (FILE - MAY 22, 2017) (REUTERS - ACCESS ALL)

9. VARIOUS OF MCLAREN RACING CARS ON DISPLAY

10. CAR FORMERLY DRIVEN BY BRAZIL F1 LEGEND AYRTON SENNA

11. VARIOUS OF 80s MCLAREN FORMULA 1 CAR MP4-5 ON DISPLAY

12. (GREEN) M16E MCLAREN RACED IN THE INDIANAPOLIS 500 IN 1975

13. SIGN DETAILING MODEL OF RACE CAR

14. CLOSE OF MCLAREN WRITING ON REAR WING OF INDY CAR

15. VARIOUS OF BUTTONS FOR CONTROLS INSIDE DRIVER'S COCKPIT

16. VARIOUS OF BLACK MCLAREN RACE CAR

WOKING NEAR LONDON, ENGLAND, UK (FEBRUARY 13, 2020) (REUTERS - ACCESS ALL)

17. NEW MCLAREN FORMULA ONE CAR, THE MCL35

18. NOSECONE

19. COCKPIT AND DRIVER'S PROTECTIVE HALO

20. VARIOUS OF DRIVERS LANDO NORRIS (BLUE TOP) AND CARLOS SAINZ (WHITE TOP) WITH MCLAREN F1 CHIEF EXECUTIVE, ZAK BROWN

21. CAR ON DISPLAY

STORY: British supercar maker McLaren Group said on Tuesday (May 26) it would cut 1,200 jobs under a proposed restructuring programme as it deals with the impact of the COVID-19 pandemic.

The move is expected to impact jobs across the group's applied, automotive and racing businesses, the company said in a statement.

The cancellation of motorsport events, the suspension of manufacturing and retail activities around the world and reduced demand for technology solutions have led to a sudden impact on the group's revenue generating activities, the company added.

"It is a course of action we have worked hard to avoid, having already undertaken dramatic cost-saving measures across all areas of the business. But we have no other choice but to reduce the size of our workforce," said Executive Chairman, Paul Walsh.

The job cuts represent more than a quarter of the group's workforce of just over 4,000, according to Sky News, which first reported the news.

(Production: Tim Hart)