JULY 17, 2014
Caterham confirms job losses
Caterham has confirmed reports "a number of employees" have left the team.
We reported earlier that, after founder Tony Fernandes' sale of the Malaysian team to mystery Swiss-Middle Eastern investors, advisor Colin Kolles had overseen the exit of "at least" 50 members of staff.
Caterham announced on Thursday morning a number of appointments, whilst also admitting it has "parted company with a number of employees".
"This is a necessary step taken by the new owners of Caterham F1 Team whose priority is the future of the team," a media statement read.
"No further comment will be made at this time."