Mclaren axes 1,200 jobs adding to engineering job woes

British industry was dealt another blow as Mclaren announced it is axing 1,200 jobs due in the wake of the coronavirus.

That represents around a quarter of the supercar maker and Formula 1 teams workforce.

It comes after Rolls Royce and British Airways earlier this month slashed 9,000 and 12,000 jobs respectively.

Such job losses confirm the stress on the engineering specifically and the broader economy.

“We now have no other choice but to reduce the size of our workforce," said Paul Walsh, McLaren chairman.

"This is undoubtedly a challenging time for our company, and particularly our people, but we plan to emerge as an efficient, sustainable business with a clear course for returning to growth."

The extent of the employment problems wont be fully understood until all lockdown restrictions are lifted, furlough schemes are wound-down and businesses try to restart into a new normal.

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