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Michael Waltrip Racing prepares for layoffs


Michael Waltrip Racing plans to permanently lay off 217 employees, according to a notice filed by the team with the North Carolina Department of Commerce earlier this week, according to a report on the Charlotte Business Journal website. In North Carolina, to be in compliance with Worker Adjustment and Retraining Notification (WARN), companies are required to file paperwork when laying off at least 500 employees or at least a third of an employer’s workforce. MWR is located in Cornelius, N.C.

According to the filing, the layoffs will come in stages between Nov. 1, 2015 and April 15, 2016, according to a report in the Charlotte Observer. A liquidation of assets is expected to be completed by mid-April.

“All employees have been notified of the reduction in force and ultimate closure and, therefore, there will be no bumping rights regarding the job in question,” the paperwork from MWR stated.

MWR, which currently fields the No. 15 Toyota driven by Clint Bowyer and the No. 55 Toyota driven by David Ragan in the NASCAR Sprint Cup Series, announced last month that it would not field a full-time entry in Sprint Cup competition next season.

The announcements come on the heels of announcements from Chip Ganassi Racing and MWR majority owner Rob Kauffman that Kauffman would become a minority owner of Chip Ganassi Racing, which fields the No. 1 Chevrolet of Jamie McMurray and the No. 42 Chevrolet of Kyle Larson, also in the Sprint Cup Series.

Kauffman bought into Michael Waltrip Racing in 2007.

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Posted by on September 3, 2015. Filed under Breaking News,Featured,NASCAR. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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