Toyota cuts 500 jobs after F1 exit
Sauber confirmed as 13th team for 2010
Toyota may sell grid spot and rule out Sauber return
Toyota blame 'economic realities' for F1 withdrawal
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.
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