Caterham has confirmed that a number of employees have been let go as part of a restructuring of the team, while also revealing new appointments.

The changes come following the takeover of the team from Tony Fernandes by Swiss and Middle Eastern investors advised by Colin Kolles. With the BBC reporting on Wednesday that over 40 staff had been cut, Caterham confirmed in a statement "that it has parted company with a number of employees."

It added: "This is a necessary step taken by the new owners of Caterham F1 Team whose priority is the future of the team."

Of the new appointments made at the team, Christijan Albers is now officially Team Principal, replacing Cyril Abiteboul who has returned to Renault. Albers will be supported by Manfredi Ravetto, who worked with Kolles at HRT and is now General Manager and Deputy Team Principal for Caterham.

The team has also announced that Simon Shinkins joins the team as COO, alongside Miodrag Kotur who becomes Team Manager. Gianluca Pisanello is promoted to Head of Trackside Engineering, while John Iley has been named as Technical Director, "leading the work being done to improve the 2014 car and the 2015 new car project".

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