Lola streamline brings redundancies

"Lola sees the permanent reduction of our annual fixed costs as the only way forward to deal with the swings in demand which are a normal feature of the motorsport sector," said Christopher Tate, head of Group Sales & Marketing. " If we take these difficult decisions now and embrace the changes we need to implement, we can plan on a structured future with a chance to grow again as our strategy develops. In so doing, we are fulfilling a key strategic aim of becoming a flexible, world-class manufacturer in every market we serve."

A new head of Group Manufacturing, Paul Martin (previously with McLaren Cars, Advanced Composites Group and Rolls-Royce), recently joined Lola to spearhead this process.

As the sub-contracting opportunities increase, Lola says that its independent suppliers may be in a position to offer roles to those affected. The company is providing external professional help for employees impacted by these changes, either to help them gain a new position or to consider self-employment.

Lola's staff roster has grown from 45 in 1996 to its current level of 215. 'Leading-edge' design and engineering will remain in-house.