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Renault Confirms Continued Participation in Formula 1 Despite Company-wide Job Cuts

Clotilde Delbos has publicly stated that the Renault DP World F1 Team remains committed to Formula 1, ending speculation that they will withdraw from the sport at the end of the current Concorde Agreement at the end of this year. Renault Group announced around 15,000 jobs would be cut from its company in a bid to save the French car manufacturer around 2 billion, and there were concerns that the Formula 1 team would be sacrificed in order to save the team some money. However, the recent announcements about the budget cap, with a reduced budget of $145 million for the 2021 season followed by reducing amounts in subsequent years, have been well received at Renault, with Delbos, the French...
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