Recent NASCAR Layoffs

Layoffs have been a part of NASCAR for two years now and came about as the economy tanked. When that happened, corporations had to tighten their budgets which meant, of course, layoffs of their own.

It also meant many of them that spent good sponsorship money in NASCAR had to pull the plug on it – or at least reduce it significantly. One result is that even several of the top-tier teams have had to negotiate less expensive deals with two, three or even four financial supporters to make it through the 36-race season.

Penske Racing laid off 50 people earlier in the week with more to come. The prime reason is that Penske has yet to find sponsorship for Sam Hornish, Jr., whose NASCAR career might be derailed if the money can’t be found.

Richard Petty Motorsports laid off 75 employees. RPM itself might have ceased to exist had not new capital been infused by Petty and a couple of investment firms.

Roush Fenway Racing. laid off as many as 60 people.