NASCAR lays off dozens of em­ploy­ees, in­clud­ing in Char­lotte

The Charlotte Observer (Sunday) - - Local - BY KATHER­INE PER­ALTA AND BREN­DAN MARKS kper­[email protected]­lot­teob­ [email protected]­lot­teob­ Kather­ine Per­alta: 704-358-5079, katieper­alta

NASCAR is cut­ting dozens of jobs amid a pro­posed bid to buy In­ter­na­tional Speed­way Cor­po­ra­tion, which owns and man­ages rac­ing fa­cil­i­ties that host NASCAR races.

Roughly 50 NASCAR em­ploy­ees in a range of po­si­tions were let go on Fri­day, ac­cord­ing to mul­ti­ple news out­lets in­clud­ing the As­so­ci­ated Press. That rep­re­sents about 5 per­cent of the com­pany’s work­force, the Sport­sBusi­ness Jour­nal re­ported.

NASCAR did not say where the lay­offs oc­curred. But NASCAR con­firmed lay­offs took place across the com­pany, which in­cludes of­fices in Char­lotte, where it em­ploys about 300 at its up­town of­fice, and Day­tona Beach, Fla., where NASCAR is based, as well as in Los An­ge­les and New York.

“As all good busi­nesses do, NASCAR is com­mit­ted to strength­en­ing its op­er­a­tion to en­sure that re­sources are aligned to strate­gies that grow the sport and drive our busi­ness,” NASCAR said in a state­ment to the Ob­server.

A NASCAR rep­re­sen­ta­tive de­clined to com­ment fur­ther.

The lay­offs come sev­eral months af­ter NASCAR said it had sub­mit­ted a non-bind­ing of­fer to buy ISC, a pub­licly traded com­pany, for roughly $1.9 bil­lion.

Lay­offs at NASCAR also comes as the rac­ing gov­ern­ing body grap­ples with de­clin­ing ticket sales, loss of spon­sors and shrink­ing TV au­di­ences.

As of Fri­day af­ter­noon, the N.C. Com­merce Depart­ment had not yet re­ceived a Worker Ad­just­ment and Re­train­ing No­ti­fi­ca­tion Act no­tice for NASCAR. Em­ploy­ers file WARN no­tices when they have mass lay­offs, close fa­cil­i­ties or change hands.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.