Renault F1 team announce job cuts

The company said most of the redundancies would be voluntary

Up to 50 jobs are to go at Renault's Oxfordshire-based Formula One team.

A company statement said approximately 50 members of staff would be made redundant from its Enstone headquarters on 2 March.

The statement said most of the cuts would be made through the company's voluntary redundancy scheme.

Most of the cuts will be made in the test team and the aero-dynamics department. The company recently said it is losing its main sponsor.

The Dutch financial services company ING said it would not be renewing its contract after the end of the 2009 season as a cost-cutting measure.

Renault finished fourth in last year's F1 constructors' championship.

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