APRIL 11, 2001
Benetton sponsor slashing jobs
BENETTON's sponsor Marconi is to cut 3000 of its 55,000 workforce around the world in an effort to costs following disappointing results for the telecommunications company in the United States markets. The cuts are part of a global organization plan for the firm although most of them are expected to occur in Britain.
Marconi's sponsorship with Benetton is expected to come to an end this year when the team transforms itself into Renault Sport UK and takes on a completely new corporate image.
It will be interesting to see whether Marconi decides to stay in F1 with another team or whether the F1 program will also get the bullet. The current performance of the Benetton-Renaults is not going to help matters...
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