NASCAR Reveals Company Layoffs

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NASCAR has laid off an undisclosed number of employees. (NASCAR Photo)

DAYTONA BEACH, Fla. – NASCAR has laid off an undisclosed number of employees as part of its restructuring plan following the merger with the International Speedway Corp.

NBC Sports initially reported the news.

The layoffs have hit Iowa Speedway in Newton, Iowa, the hardest. The track has dismissed most of its staff, with only Iowa Speedway President David Hyatt and a handful of other employees remaining.

The track will receive help from the staff at Kansas Speedway, located four hours away in Kansas City, Kan., for the remainder of the season and during race weekends.

“Iowa Speedway looks forward to running our 2020 race event schedule and delivering another exciting season of racing,” Hyatt said in a statement to NBCSports.com. “With assistance from the Kansas Speedway staff, we remain committed to providing an unforgettable race day experience and great entertainment value for our fans.”

NASCAR completed the merger with the International Speedway Corp. in October, a deal that brought 12 race tracks under NASCAR’s direct ownership.

“Following the (ISC) merger, NASCAR began evolving its operations and we remain committed to this process during these unprecedented times to ensure the long-term health of our sport,” NASCAR officials told NBCSports.com. “Like other businesses, we are working to get through this economic impact and position ourselves for success upon our return to racing.”

The layoffs come amid uncertainty in the auto racing realm as the sport continues to wait out the COVID-19 pandemic. Several races have already been postponed, with the next race on the NASCAR Cup Series schedule May 9 at Martinsville (Va.) Speedway in question following a stay-at-home order announced by Virginia Governor Ralph Northam on March 30.