Troubled Arrows Grand Prix team, based at Leafield near Witney, has issued redundancy notices.
According to reports out on December 6, up to 200 staff have been sent letters confirming they no longer have jobs.
A few days earlier, the Leafield-based team was thrown out of next season's World Championship.
One former staff member said: "I think they probably have to do this for their benefit, but it helps us too because now we can actively seek employment."
The 250 workers at the team's headquarters were paid up until July 30.
Since then they have received nothing and Citizens Advice Bureau offices across the county have been flooded with inquiries about what they should do.
The team failed to compete in six of the final seven races of last season because of cash problems, and were not on the entry list published by world governing body FIA.
Arrows paid the £220,000 entry fee for next season before last month's deadline.
Other F1 teams have scaled down this businesses in an attempt to fight depleted budgets.
The Milton Keynes-based Jaguar team has confirmed 74 jobs would go.
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