Published on November 20th, 2008 | by Michael J Smith2
NASCAR Teams Make Job Cuts
The economic downturn is taking its tool on everyone, including NASCAR. As automakers struggle to stay afloat, and seek to secure bailout funds, NASCAR teams announce layoffs.
Since the end of the Sprint Cup season, Petty Enterprises, Wood Brothers Racing, and Bill Davis Racing have all laid off employees.
Even the larger teams, including Hendrick Motorsports, Joe Gibbs Racing, and Roush Fenway Racing, have cut some employees.
Many economists and analysts are predicting hard times for quite a while, which means we could see more cuts and more drastic measures.
NASCAR recently did away with testing in an effort to lower costs.