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Closing Bell

NASCAR Going Through Another Round Of Layoffs

NASCAR today is going through a second wave of layoffs as it continues to streamline its structure due to both the ISC merger and coronavirus pandemic. The sanctioning body eliminated 69 jobs during the first round in April, according to sources, and the tally could be higher today, although the exact number is not yet known. As part of the acquisition of the 13-track ISC last year, NASCAR is changing its entire structure and streamlining many aspects across departments like ticketing and social media. That is leading to the elimination of such jobs at many tracks, though the cuts are also hitting other NASCAR departments.

NASCAR Chair Jim France took on a significant amount of debt to help finance the acquisition of ISC last year, and debt service on that, coupled with effects from the pandemic, have dovetailed into needing to implement significant job reductions.

Read more on our breaking news blog.

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