Layoffs At NASCAR Teams

Not official but Stewart-Hass Racing [formerly Haas CNC Racing”> will lay off 16 people Monday, November 17th, this is a new team did they just over hire to start with or is Tony becoming cautious with his own money. Also on Monday, a large layoff at #96 Hall of Fame Racing, supposedly due to lack of full sponsorship. The current Hall of Fame Racing shop building is also up for sale. I think this is just the tip of the iceberg for 2 reasons, as we all know the economy is tough right now, Several sponsorship deals have been overturned in recent weeks as companies cut back. It would be hard to lay off employees while sponsoring a race car. Also I believe several of the teams were overstaffed and are using this for an excuse to cut back. When sponsorship dollars were easy to come by it is easy to hire, but when dollars become scarce some positions become extinct. Several sources are saying the layoffs could be as high as 1000 positions before the smoke clears, I also think more than a few teams will not be around next year. One more little tidbit, what in the world is going on with Penske, he just isn’t competitive with his NASCAR team. This is not the norm for him.