FIA president Max Mosley has admitted that new F1 changes that are set to take place could cost the industry thousands of jobs. This comes ahead of the announcement that engine manufacturer, Cosworth, will be forced to cut almost 40 percent of its staff by years’ end. At most risk are British workers because seven out of the eleven teams in total are based in the UK, where each team employs anywhere from between 500 and 1000 staff members.

The cuts are coming mainly because of the rule regarding the cease of engine upgrades, which starts next season. This change has made many jobs redundant forcing teams to drop employee levels. It doesn’t help that there are further plans to implement set budgets for teams meaning there will definitely be further job losses.

Mosley acknowledges the negative aspects of the new changes but feels they’re a necessary step in the evolution of F1 and is part of a move to increase competitiveness amongst teams by reducing budgets.