• Toyota

Toyota cuts 500 jobs after F1 exit

ESPNF1 Staff
December 4, 2009 « Ricciardo sets the pace on final day of testing | »
Toyota has shed 500 jobs from its motorsport division © Sutton Images
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Toyota Motorsport has cut 500 staff from its workforce as a direct result of pulling out of Formula One, according the German press agency DPA.

Toyota declared it was pulling out of the sport in November but did not confirm its plans for its headquarters in Cologne, Germany. The FIA's recent announcement that Sauber would take Toyota's grid sport ruled out any chance of the team continuing to run from its base with new paymasters.

Marketing director Andi Fuchs said 150 staff will be kept in Cologne and will work on other Toyota racing projects, claiming the withdrawal "hit us like a bomb". The report added that the affected employees will receive partial salaries for up to one year as well as redundancy payments and re-training benefits.

© ESPN Sports Media Ltd.

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