Closing of Stewart-Haas Racing will lead to more than 300 layoffs. What to know
Stewart-Haas Racing, a two-time Cup Series championship team, is shutting down after this NASCAR season, leaving hundreds of people without jobs.
Owned by Tony Stewart and Gene Haas, the Kannapolis-based business will lay off 323 employees, according to a Worker Adjustment and Retraining Notification Act (WARN) filed Monday with the North Carolina Department of Commerce.
The team still has one Cup Series charter next year — the No. 41 Haas Factory Team Ford, which will be driven by reigning Xfinity champion Cole Custer — along with two teams in the Xfinity Series. Some of the employees who will lose their jobs at Stewart-Haas could be among the 90 to 100 employees joining the Haas Factory Team, according to the WARN notice.
“Stewart-Haas Racing currently has two owners, and one owner will be purchasing the partnership interest of the other owner,” the letter reads. “The legal entity will remain (same TIN) going forward with only the one owner and will be renamed. Staffing will be reduced to 90-100 employees. Some current employees may remain with the newly named company.”
The layoffs will begin Nov. 11. Employees were notified of the layoffs May 28.
This story was originally published May 28, 2024 at 2:41 PM with the headline "Closing of Stewart-Haas Racing will lead to more than 300 layoffs. What to know."
