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Caterham confirm job losses

Thursday 17-July-2014 10:00

Caterham have confirmed that they have "parted company with a number of employees" in the wake of the buyout of the team.

Tony Fernandes concluded the sale of the Caterham F1 team to a consortium in the build-up to the British Grand Prix.

According to reports, that sale resulted in the loss of 40 jobs, a number Caterham have refused to confirm.

"The team has confirmed that it has parted company with a number of employees," the team said in a statement.

"This is a necessary step taken by the new owners of Caterham F1 Team whose priority is the future of the team. No further comment will be made at this time."

At the same time Caterham announced that Christijan Albers is now team principal, supported by Manfredi Ravetto, general manager and deputy team principal, while Simon Shinkins has joined as the new COO.

Added to that John Iley is been appointed the team's technical director, leading the work being done to improve the 2014 car and the 2015 new car project.

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