Hamburg - The Brawn GP Formula One team is to reduce the workforce at the team's Brackley factory in England by 270 to cut costs.

The team made the announcement shortly after celebrating a one-two victory in Sunday's season-opening Australian Grand Prix in Melbourne.

"It's very unfortunate that we've got to do that but it's the change of technical regulations and obviously we are now a private team," said team chief executive Nick Fry.

"We are about 700 people at the moment and we talked to the staff about going down to about 430."

The Brawn GP team came into being after Honda announced its withdrawal from F1 last December. (dpa)