The COVID-19 pandemic wreaked financial havoc on F1 and its teams. In order to ensure the sport continues during these troubled times, F1 took measures such as including a budget cap of $145 million for this season. All teams would have to manage their expenses within the limits of this cap.

For big teams such as Ferrari, this meant laying off employees or rather redistributing them within the company.

Teams were given a deadline of June 2021 to cut costs by laying off employees. However, Scuderia team principal Mattia Binotto believes that six months is an insufficient period of time to do so.

He said (translated via Google),“They gave us six months. We actually asked a little more, but that was the compromise.” 

Binotto was quick to point out that the pandemic is not over and firing their employees instead of redistributing them would send a “completely wrong” message.

Binotto added, ” We don’t think that would be the right approach. The mechanism of six months has to be checked.”

The Ferrari team boss felt that an extension should be given until the end of the year.

Ferrari F1’s plan to save their employees from being fired

Ferrari have the advantage of being a huge company with many resources and many departments. According to Binotto, the plan would be to use that to the fullest and redistribute their employees within the Ferrari brand itself.

He said, “We’re trying to move people [within the company] to the street cars because we’re a very big company. We have a few options. But it’s a difficult job.”

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If the FIA don’t budge on their decision, Ferrari may not have enough time on their hands and may have to resort to firing some of their employees.

However, from Ferrari’s perspective, everything isn’t as drab, especially not their hopes for the 2021 season. The Maranello-based outfit have reportedly sorted out their engine issues. Thus, they expect to have a generous boost in power this season.

They have also managed to solve their issues with the massive amounts of drag the SF1000 saw last year. Combine those aspects with a new and exciting driver pairing in Charles Leclerc and Carlos Sainz, and the Prancing Horse could climb back up the table in the upcoming season.

Early Sketches Detail Ferrari’s 2021 F1 Car with Positive Improvements: Reports