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Page last updated at 20:01 GMT, Friday, 24 April 2009 21:01 UK

Renault reduce F1 staff salaries

Renault team principal Flavio Briatore
Briatore and his senior managers have led by example

Renault's Formula 1 personnel have had their pay cut as the team responds to the global economic downturn.

Team principal Flavio Briatore said he and technical director Bob Bell, plus engineering chief Pat Symonds, would take a 20% reduction in salary.

"The second level [of staff] have a 10% cut, and everybody else has a cut of 5%," said Briatore, ahead of this weekend's Bahrain Grand Prix.

Renault are losing their title sponsor ING at the end of the season.

The decision by the Dutch financial services company to end its involvement in F1 leaves a big hole in the team's budget for 2010.

F1 has moved to cut costs significantly since the end of last season and is discussing a budget cap for 2010 that would allow teams to compete for a fraction of current levels.

Some teams have also shed staff now that testing is banned during the course of the season.

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see also
Global crisis hits Renault team
16 Feb 09 |  Formula 1
ING to shed 7,000 jobs this year
26 Jan 09 |  Business
F1 stars may have to take pay cut
18 Dec 08 |  Formula 1
F1 unveils cost-cutting blueprint
12 Dec 08 |  Formula 1
Global crisis ends Honda F1 era
05 Dec 08 |  Formula 1
Harsh reality catches up with F1
05 Dec 08 |  Formula 1

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