NASCAR was downsized on Friday
An estimated 5% of NASCAR employees were laid off
It was rumored that NASCAR would begin laying off members of their staff.
On Friday, that happened. Employees of the stock car racing sanction were laid off at various positions within the privately held company.
The number of people laid off was not released. However, it’s estimated to be around 5% of the total workforce.
“A little less than 5 percent of our total workforce was laid off today across our entire company,” a NASCAR official stated to the Daytona Beach News Journal.
“We’re looking to take our remaining resources and focusing them on initiatives we already have in place that require dollars and that will help us grow.”
NASCAR merging with ISC?
It’s speculated that this is in regards to a possible merger between NASCAR and ISC. The International Speedway Corporation operates 12 active tracks on various NASCAR schedules.
No NASCAR official has commented on the rumors of the said merger.
NASCAR Steve Phelps was asked the following question in November:
When do you expect the ISC deal to close? What structural changes are you expecting? Is NASCAR planning to make a similar bid for SMI?
“I can’t comment on the first one. I can’t comment on the second one. I can’t comment on the third one,” Phelps responded.
NASCAR statement on employee layoffs
NASCAR issued another statement on the layoffs to Sports Business Daily.
“All good business do, NASCAR is committed to strengthening its operation to ensure that resources are aligned to strategies that grow the sport and drive out 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.”
Daytona Beach, Florida: NASCAR headquarters is based in Daytona Beach, Florida.
The Daytona Beach NASCAR office tower focuses on: Finance and accounting, legal, risk, racing operations, human resources, diversity and information technology
Uptown Charlotte, North Carolina: The NASCAR Media Group operates out of the building in Uptown Charlotte, North Carolina. The Charlotte tower is also attached to the NASCAR Hall of Fame.
The Uptown Charlotte NASCAR office tower focuses on: NASCAR Media Group, including productions, digital, and NASCAR.com are housed here. That site along side with several marketing, communications and strategy functions. In addition, the NASCAR social media team resides here.
New York, New York: The office building sits in Manhattan. It serves as a hub for partnership marketing, strategic development, broadcasting and production, integrated marketing communications, legal and marketing.
The New York NASCAR office building focuses on: The Madison Avenue office offers a unique location for meetings with big business companies. It’s essentially a hub for the sponsorship side of the stock car racing company.
Los Angeles, California: This building is home to the NASCAR Entertainment Marketing division. It’s based in the heart of show business.
The Los Angeles NASCAR office focuses on: Bringing pop culture to NASCAR. And in many cases, injecting NASCAR into pop culture. This office played a role in the ‘Cars’ movie franchise as well as the movie ‘Talladega Nights’.
Concord, North Carolina: This is the home of the NASCAR R&D Center. The building is based within minutes of the vast majority of the racing teams of North Carolina.
The Concord NASCAR building focuses on: Officiating of the sport. This is the building that sees weekly tear-downs of various race cars to make sure teams are up to spec with the rule book. It also serves as a testing grounds for research in safety and various other areas of the motorsports company.
Toronto, Canada: This is the headquarters for NASCAR Canada.
The Toronto, Canada NASCAR office focuses on: The sports Canadian sanction. It’s also a joint partnership with TSN, the Canadian media company.
Other NASCAR properties included: Conover (Hauler and official staging), Iowa Speedway, Road Atlanta, Sebring International Raceway.