Caterham makes 230 staff redundant

By on Sunday, November 16, 2014
Caterham F1 Team

Caterham F1 Team

Caterham's Formula 1 team has made 230 employees redundant, ahead of its anticipated return at the Abu Dhabi Grand Prix.

Caterham entered administration at the end of October and the majority of employees, who have not been paid since the end of September, requested to be made redundant in order to start a formal claims process.

"We are going to Abu Dhabi, racing and talking to potential buyers with meetings already arranged out there," said administrator Finbarr O'Connell from Smith & Williamson.

"The second track is that at the same time the claims forms will be up and running.

"A best outcome could be for staff to get redundancy, arrears of pay and then if someone comes along [and buys the team] they would get paid again.

"They [the employees] were very supportive but asked would I agree, if the team was not sold by Friday November 14, to organise them to be made redundant."

O'Connell added that a small number of the non-race team did not ask for redundancy and also said that around 40 people will travel to Abu Dhabi with the team.

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