The move is expected to impact jobs across the group's applied technology, automotive and racing businesses, the company said in a statement.
The decision follows April's Chinese Grand Prix being postponed and with the second race of the year in Bahrain due to be held without spectators, leaving huge question marks over the rest of the calendar.
Pointing to the uncertainty towards Brexit, Flewitt said demand and sales of its carbon fibre and aluminium sportscars have been falling in UK which is its largest market.
Standing true to its name, the Mclaren GT is a thoroughbred Grand Tourer.
Lego Partnered with British supercar manufacturer to spend 2000 hours designing and another 2,725 hours building a life-sized Senna replica.
Discarding all rules and limitations of making the car road legal, Mclaren has made the Senna GTR a track-only car.
Tuplejump specialises in faster storage, processing and analysis of big sets of data. This will be Apple's fourth machine learning acquisition in a year.
The newspaper had cited three unnamed sources saying the iPhone maker was looking at a potential takeover of or investment in McLaren, which could be valued at up to 1.5 billion (1.7 billion euros, USD 1.9 billion).
This episode showcases McLaren and Honda on the art of the perfect pit stop and we mark your card for the 24 Hours of Le Mans.
Get set for the 100th Indianapolis 500 where America‘s most fabled race is about to get under way and celebrate 50 years of McLaren in Formula one.
McLaren Racing appoints Jost Capito as CEO
Mobil1 The Grid joins Stewart-Haas Racing for their trip to the Brickyard and also visits the McLaren Technology Centre.
Want to know how each driver will perform in the 2014 F1 season? Here's what we think
Among many rumours floating in the industry, it is being speculated that the new sports car can either be a more powerful version of the 12C (with power boosted to 650PS)
While more details about the car are being awaited, here are some images
China, the world's second-biggest economy, has become a key market for luxury car brands including Ferrari and Lamborghini who have targeted the country despite a recent slowdown in economic growth.
A Formula One pitstop could take less than two seconds this season, according to world champions Red Bull who belatedly claimed a record of 2.05 on Wednesday.
Formula One championship leader Sebastian Vettel looked good for pole position at the Indian Grand Prix on Saturday after completing a practice hat-trick.
Lewis Hamilton is set to move from McLaren to the Mercedes Formula One team next season in a deal likely to send Michael Schumacher back into retirement, according to media reports in Britain and Germany.
Auto companies did not have a good year. Sales were down, but consumers benefited as automobile manufacturers were doling out discounts like never before. Many companies dished out a slew of launches through the year and General Motors (GM) was latest to join in.
After a wet and muddy British Grand Prix weekend at Silverstone, Formula One could see some sort of a pattern emerging in a season that has so far stood out for unpredictability.
Team bosses were cool on the idea of becoming actively involved in any flotation of Formula One on the Singapore stock exchange, instead preferring to focus on their own interests.
Team by team analysis of Sunday's season-opening Australian Formula One Grand Prix in Melbourne.
Expect a fresh wave of optimism, with teams and drivers gamely talking up their prospects before the bitter chill of reality changes the body language, when Formula One's launch season picks up speed this week.
The mysterious disappearance of Lewis Hamilton's race pace has stumped the McLaren driver heading into Sunday's Korean Grand Prix.