Williams F1 staff receive £2m bonus despite £42.5m company losses

Despite reporting a loss of £42.5million for 2014, Formula One team Williams have rewarded their staff with a collective bonus of £2million for finishing third in Formula One’s constructors’ championship, with the 660 staff receiving £3,000 each for finishing higher than Ferrari.

Mike O’Driscoll, the team’s Group Chief Executive Officer, labelled the decreased figures as nothing more than a ‘hangover’. In 2013 Williams reported a profit of £11.9million, and the group as a whole had a drop in revenue from £130.4million in 2013 to £90.2million last year.

Williams received a one-off £20million sponsorship payment in 2013 when former driver Pastor Maldonado broke his contract, but finished ninth in the constructors championship, the lowest in their history.