Sport: Report: NASCAR lays off approximately 50 employees - PressFrom - US

SportReport: NASCAR lays off approximately 50 employees

21:55  11 january  2019
21:55  11 january  2019 Source:

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Unconfirmed reports said hundreds of employees were laid off Tuesday in downtown Kansas City. “Today, DST laid off approximately 6 percent of its worldwide workforce. While difficult to part with The act requires companies to report shutdowns and significant layoffs well before they happen.

Ruger is going to be laying off 50 employees across several unspecified locations unrelated to manufacturing and production as of Friday, January 5th. Although it is never positive news to hear layoffs , this does happen to be a smaller layoff in comparison to their overall large workforce of

Report: NASCAR lays off approximately 50 employees© Provided by Oath Inc. Is NASCAR for sale? The France family hasn’t explicitly said it isn’t. (Photo by Michael Bush/Icon Sportswire via Getty Images)

Some NASCAR employees got the bad news that they were without a job on Friday.

According to the Associated Press, about 50 people who work for the series lost their jobs. The Sports Business Journal reported that the number of layoffs totaled less than 5 percent of NASCAR’s workforce.

NASCAR issued a tone-deaf statement about the layoffs.

“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.”

NASCAR has been unsuccessfully looking for long-term growth for quite some time. The series has hemorrhaged television and at-track viewers for years despite the financial security of a long-term television contract with Fox and NBC Sports.

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ESPN has announced they will lay off approximately 150 employees on Wednesday. ESPN President John Skipper sent a memo to employees informing them of the move. The network laid off almost 300 employees in 2015. That layoff focused mainly on upper-level

ESPN announced Wednesday that it is laying off approximately 150 employees , the network’s third round of job cuts over the past two-plus years. The round of layoffs announced Wednesday will affect employees “in studio production, digital content, and technology and they generally reflect

Title sponsor Monster is leaving the Cup Series after the 2019 season. The company will have been the title sponsor of NASCAR’s highest level for just three seasons. And did that at a much lower sponsorship rate than previous sponsor Sprint.

Teams at all three levels of NASCAR struggle to find sponsors to cover the ever-rising costs of racing. Drivers who are coupled with a sponsor often find rides while drivers more accomplished and talented who don’t have sponsors often find themselves sidelined.

Is NASCAR for sale?

It’s entirely possible that NASCAR is positioning itself for a sale with the layoffs. The series has not explicitly denied reports that the France family is looking for an investor to buy part of the family-owned series. And NASCAR recently made a move to purchase all of the shares of publicly-owned sister company International Speedway Corporation. Privatizing ISC is a way that NASCAR could make itself more valuable to a potential investor.

Tentative NASCAR Speedweeks schedule at Daytona

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Oklahoma City-based Chesapeake Energy Corporation has laid off approximately 800 employees as part of CEO Doug Lawler’s efforts to restructure 8 letter to Chesapeake employees . The layoffs affected workers in various groups that include land, operations, IT, human resources, legal, facilities

Shortly after news circulated that Bleacher Report was laying off employees , including lead SEC writer Barrett Sallee, the exact numbers of staffers being let go are being reported . According to Politico’s Joe Pompeo, Bleacher Report is laying off approximately 50 employees in its wave of cuts.

According to Bloomberg, Boston Red Sox owner John Henry has been exploring purchasing a part of the series. Henry’s Fenway Sports Group is a co-owner of Roush Fenway Racing.

NASCAR’s current CEO is Jim France, the brother of former NASCAR CEO Bill France Jr. Jim France took over as NASCAR CEO after Brian France, Bill’s son, took a leave of absence after he was arrested for DWI and possession of a controlled substance in August.

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Nick Bromberg is a writer for Yahoo Sports.

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Report: NASCAR lays off approximately 50 employees

Former NASCAR Cup driver David Reutimann turns crew chief.
Ryan Rackley will embark on his first full season of Late Model racing this year after signing with Lee Faulk Racing and Development and he’ll have an experienced crew chief to help him through the 2019 campaign. Rackley, who made his limited Late Model debut in November at Myrtle Beach (S.C.) Speedway for LFR and finished third, will run the full PRA Tours SouthEast Limited Late Model Series schedule in addition to a handful of other limited late model events. To help guide Rackley’s career, LFR has hired former Monster Energy NASCAR Cup Series driver David Reutimann to serve as crew chief for the 2019 season.

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