MERCEDES: There will be redundancies

This will be facilitated by the introduction new budget ceilings, which will take place next year and will require teams to reduce spending on $ 145 million per season with a few exceptions.

And this limit will be in the coming years even lower and this will hit the top three teams the hardest Mercedes, Ferrari in Red Bull. In Toto wolff confirmed that although the team is trying to find new jobs for its employees, it will unfortunately not be possible without layoffs.

"Limiting costs means that there will be redundancies, but we are doing our best to find interesting opportunities for people that we will no longer be able to keep,”So the Austrian for the portal Thisismoney.co.uk. In the end, he is the team boss Mercedes added: "We are still in the decision-making phase because the restructuring needs to be completed by the end of June 2021. Then these people will no longer be on the payroll of the Formula 1 team."