Ferrari will take time to decide on cutbacks

By Mark Meadows

MUGELLO, Italy (Reuters) - Formula One champions Ferrari will see how the first few races of the season pan out before making any decisions about shedding staff due to the global economic crisis, team officials said on Monday.

"The rules have changed only recently so before taking decisions too quickly, like reducing the number of staff, we need to pay close attention to our working methods and then not take too radical decisions," technical director Aldo Costa told reporters at the launch of their 2009 car.

"We need to evolve and develop the team strategy. We are weighing and thinking about the new regulations and we will certainly adapt."

Formula One teams and the governing International Automobile Federation (FIA) have agreed a package of measures, including a ban on testing during the season and affordable engines for independent teams, to slash outgoings from this season.

Engines will have to last for three races and there will be restrictions on the use of costly wind tunnels and the number of team personnel attending races.

Costa said the difficulty of building the new car while battling for both titles until the last race of 2008, as well as the significant number of new rules governing the designs this year, had meant it was all hands on deck in any case.

Ferrari are the sport's glamour team, the only ones to have competed in every championship since 1950 and the most successful.

Their achievements have also earned them a special status, with Formula One supremo Bernie Ecclestone saying last month that Ferrari received some $80 million (53.8 million pounds) more than their rivals from the commercial revenues.