Red Bull won't cut more jobs to stay under the budget cap, citing a 'superfluous situation'

Red Bull boss Christian Horner says there will be no mass redundancies at the team due to the ongoing budget cap crisis.

Already this season, Formula 1's top teams all look set to exceed the $140million cap due to the cost of freight and soaring energy prices through inflation. Horner has been advocating urgent action concerning the budget cap, wanting to increase the financial budget to avoid a penalty this season.

When the initial budget cap was introduced, big teams like Ferrari, Mercedes and Red Bull axed a number of their staff to balance their books.

Not realistic

When asked if more redundancies were to follow at Red Bull, Horner said: "I don't think it's realistic because, obviously, redundancies come with costs. So, you couldn't make enough people redundant to lose enough cost to come under the cap, so it becomes a superfluous situation. So you know, redundancies aren't the answer to this. We just need to find a solution because we only have a six-month effect."

Horner added they were limited to just how to manage the situation: "There are only so many levers that you have in your armoury that you can pull. But so many of our costs are dictated - the calendar, we know what that is, the freight costs, the component costs, to service and build these cars.

"They're all pretty much fixed, and so we're very limited in the number of levers that we have to be able to reduce costs when we're seeing energy costs with three-fold increases. We're also seeing freight going through the roof, [and] we're seeing component costs going way beyond anything that we've ever seen previously."

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