Economy

Renault wants to cut 15,000 jobs, consequences for 220 employees in Belgium are still unclear

What is already clear is that the savings will have no consequences for Renault’s commitment in Formula 1. That has emphasized top woman ad interim Clotilde Delbos. “We’ve said it publicly before and we hereby confirm that we remain committed to F1.”

According to the Renault top woman, the budget ceiling that is introduced in F1 plays in the map of Renault. “The announcement of the new spending cut regulations is very good news for us because we need to invest less in this branch than some of our big money competitors. So we are and will remain in F1.”

The budget ceiling in F1 stipulates that a maximum of 145 million dollars (132 million euros) may still be spent in 2021. That amount will drop to $ 140 million (in 2022) and $ 135 million (2023-2025) in the coming years.

Renault returned to Formula 1 in 2016 after a few years of absence, which was not yet a great success. The French have not yet celebrated a single GP victory. A fourth place in the constructors’ championship of 2018 is the best result so far.

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