Jul.21 (GMM) Abu Dhabi's F1 venue Yas Marina Circuit has shed 61 staff, according to local reports.

The UAE-based 7Days newspaper said the race organisers Abu Dhabi Motorsport Management made the decision in order to reduce costs.

But spokesman Peter Rae insisted the staff cuts will not affect preparations for November's day-night F1 race.

"As in any business if you can make the business run well and have lower costs then you make more money," he said.

The spectacular and spare-no-expense Yas Marina Circuit was a joint venture between Abu Dhabi and property development giant Aldar, but the latter company handed over control to the government last year.

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