IMS Corp. Lays Off 10 More Employees In Cost-Cutting Effort

Ten more employees within Indianapolis Motor Speedway Corp. "lost their jobs Thursday as the downsizing continued amid a stressed financial situation," according to Curt Cavin of the INDIANAPOLIS STAR. The "cuts were shared between" the IRL and IMS Productions, "raising the week's total to about 25 people." An IMS Corp. statement "linked the layoffs to 'a tough global economy,' but it's clear the new IMS regime," led by new President & CEO Jeff Belskus, is "heeding the call to become more efficient." Additional adjustments are "expected next week as aspects of the business are outsourced." At its height, IMS Corp. "employed more than 400 people, with nearly 300 at the Speedway." Today, "about 250 remain at the track, including the golf course and food and beverage division, and about 100 at the IRL and IMS Productions." Most of the employees let go this week "worked behind the scenes, including four members of the Speedway's online staff." The "emphasis on efficiency appears to have taken on a greater significance in the past six months, and it's believed to be at the heart of Tony George's removal from several key leadership positions." Belskus Thursday said, "We've still got some work to do (financially), but we'll get there. The question is, how fast do we want to get there?" (INDIANAPOLIS STAR, 11/13). In Indianapolis, Scott Olson cites a source as saying that IMS "laid off 40 employees Wednesday, mostly from its human resources department" (IBJ.com, 11/13).