LEAFIELD-based Formula 1 team Caterham has announced 40 staff redundancies.
It comes after it was bought up by a consortium of Swiss and Middle Eastern investors from Malaysian entrepreneur Tony Fernandes.
A Caterham spokesman said it was “a necessary step taken by the new owners... whose priority is the future of the team”.
The news was broken to employees earlier this week as the team prepared for Sunday’s German Grand Prix at Hockenheim.
9:41am Wednesday 29th July 2015
An Oxford street remains closed after canisters containing an unidentified substance were discovered.
10:00pm Tuesday 28th July 2015
FOUR people were killed in traffic accidents in 24 hours on Oxfordshire’s roads.
6:30am Wednesday 29th July 2015
CONFLICT between wheelchair users and parents with buggies has led to problems on the buses across Oxfordshire.
9:00am Wednesday 29th July 2015
POLICE chief Francis Habgood has said “difficult choices” will have to be made about policing across the Thames Valley.
9:31am Wednesday 29th July 2015
A NEIGHBOUR helped an elderly couple to safety after their home was filled with smoke from a burnt-out boiler, the fire service said.
7:00am Wednesday 29th July 2015
A WARD of 30 beds at Witney Community Hospital will shut for seven months to send staff elsewhere in the county and save money, it was announced yesterday.