Hours after Jenson Button and Rubens Barrichello completed a dream one-two finish in Melbourne, chief executive Nick Fry announced the losses.

BBC: Brawn GP reveal heavy job losses

Meanwhile, Brawn chief executive Nick Fry thinks both drivers are capable of winning the 2009 drivers' championship following their results in Valencia.

BBC: I must find form, admits Button

The pair sprayed champagne while Red Bull team boss Christian Horner, three-time world champion Sir Jackie Stewart and Mercedes chief executive Nick Fry were also on hand to mark the unveiling.

BBC: Silverstone unveils new grand prix layout

The Brawn GP team was rescued from the brink of bankruptcy by Brawn and Nick Fry after Honda withdrew from Formula One at the end of 2008 due to the economic downturn.

CNN: Brawn GP win F1 legal battle over diffusers