Motorsports Authentics Cuts 40 Employees For Budgetary Reasons

Motorsports Authentics (MA) laid off 40 employees yesterday, which interim President Joe Mattes said represents around 15% of the company's work force, according to Jefferson George of the CHARLOTTE OBSERVER. MA laid off "several other employees earlier this year, but Mattes said he didn't know how many employees were let go" prior to yesterday. Mattes also "wouldn't say how much money would be saved with the layoffs, saying only that 'it's significant.'" He said that the cuts were "mostly intended to improve efficiency" at the company (CHARLOTTE OBSERVER, 3/19). Mattes assumed his current position last week, replacing "longtime industry executive Don Hawk, who remains in another leadership position and serves on the [MA] board" (THATSRACIN.com, 3/18).