NASCAR Lays Off Dozens Of Employees In Several Departments

NASCAR on Friday laid off several dozen employees in a long-rumored belt-tightening amid the proposed merger with ISC. While the total number of employees laid off could not be determined, it represents less than 5% of the workforce. The layoffs are said to have hit several different departments in both competition and business operations. NASCAR called it a strategic reallocation of resources and said in a statement, "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. We have a talented team at NASCAR and we’re confident that greater focus on the opportunities to drive fan interest and strong industry partnerships will help our sport achieve long-term growth."

Rumors of impending layoffs have been going around NASCAR ever since the $1.9B bid by NASCAR to acquire ISC was announced in November.