Gloomy times in the F1 business

Thursday 5th December 2002

Gloomy times in the F1 business. Days after Jaguar announced 76 redundancies, Arrows laid off 130 jobs at their Leafield base as a result of them being refused an F1 entry. The news came as another blow to the industry which was struggling to come to terms with falling sponsorship revenues and declining TV audiences across the globe.

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