British supercar maker McLaren has put up to 500 jobs at risk of redundancy in a major cost reduction shake-up following its merger with luxury electric car start up Forseven.
The Standard has learned that a consultation process with the 2,500 strong combined workforce is already underway with roles expected to be lost in areas such as design and engineering, IT, legal and HR, particularly where there is duplication.
The jobs are expected to go at McLaren Automotive’s main base in Woking as well as sites in Bicester, Leamington, and Surrey.
The move follows the bombshell merger of the two companies revealed in April. Forseven is a British start-up that has been assembled a team of more than 700 industry professionals, including designers, engineers and executives from rival British car companies, and is planning the launch of a range of luxury models under a new brand by the end of the decade.
The new combined company, McLaren Group Holdings, will be led by Forseven CEO Nick Collins who in an interview with Autocar said that “we’re about to embark on the most exciting British automotive story in decades”. It is backed and financed by Abu Dhabi investment company CYVN Holdings .
A spokesperson said: “Following the April announcement of the integration of McLaren Automotive and Forseven, we are proposing a potential workforce reduction of up to 500 roles across the combined organisation.
“The realignment of roles and responsibilities is a necessary step in preparing for the coming together of our two businesses and will ensure that our operations are streamlined to enable resilience and success over the long term.
“This is a difficult decision, and we recognise that this will be an incredibly hard process for our people. We are committed to actively exploring ways to minimise the overall impact, while providing comprehensive support and guidance to all those affected.
“Looking ahead, we remain dedicated to expanding our portfolio of luxury vehicles and delivering the exceptional customer experiences that honour the McLaren legacy.”
It is hoped that some of the employees at risk of losing their jobs could be redeployed in one of 300 new roles being created as the merged company grows.
