Renault has confirmed it remains commited to stay in Formula 1 on a long-term basis despite a major company restructure to cut costs. On Friday the French car maker presented its plan to reduce costs by 2bn over the next three years in response to declining car sales and in the wake of the financial uncertainty caused by the coronavirus crisis. Renault will cut nearly 15,000 jobs as part of the cost-saving measures and company restructuring but the F1 team is set to be unaffected by the proposal. Speaking at a conference call on Friday, Renault’s Interim CEO Clotilde Delbos reaffirmed the French manufacturer’s commitment to F1 beyond the end of the 2020 season, when its current...
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