NASCAR Teams Cutting Back Workforce

Concord, NC (AHN) - NASCAR eliminated testing last week and this week cutbacks began among the organization's racing teams due to the struggling economy.

Hendrick Motorsports, having just secured its third Sprint Cup championship, reduced its workforce by 12 positions -- approximately two percent - and other cuts have been made across the board by other teams. Hall of Fame Racing, which is still trying to secure sponsorship for 2009, said it will cut its staff for 2009 and also reducing personnel are: Petty Enterprises, Wood Brothers Racing, Bill Davis Racing and Ernie Elliott's engine shop. Chip Ganassi Racing formerly used engines from Elliott, but with Ganassi's merger with Dale Earnhardt Inc., Ganassi is expected to use Childress-Earnhardt power plants. Petty Enterprises released 30 employees and it's believed Wood Brothers released as many as 20 employees. The layoffs come as a result of the country's economic crisis, and at a time when sponsorships are hard to find.