Motorsports Authentics cuts 40

Wednesday, Mar. 18, 2009

Motorsports Authentics, a joint merchandising venture by the country's two largest speedway owners, laid off 40 employees Wednesday, said Joe Mattes, the company's new interim president.

The cuts represent about 15 percent of the Charlotte-based company's workforce, and between 250 and 300 employees remain, Mattes said.

Named interim president last week, Mattes said he and senior managers spent recent days analyzing the company's workforce and processes before cutting the 40 positions – 33 of them full-time.

"It was from the manager level to the customer service level,” he said of the layoffs. “Every facet of the organization was reviewed.”

Motorsports Authentics laid off several other employees earlier this year, but Mattes said he didn't know how many employees were let go before Wednesday. Mattes also wouldn't say how much money would be saved with the layoffs, saying only that “it's significant."

While the sour economy was one factor, Mattes said the layoffs were mostly intended to improve efficiency at Motorsports Authentics, which is owned by Concord-based Speedway Motorsports and International Speedway Corp. of Daytona Beach, Fla.

Speedway Motorsports Inc. is the company headed by Bruton Smith. International Speedway Corp. is the sister company of the France family's NASCAR.

“We think strongly these changes will have positive effects. They're going to increase sales and make things happen,” Mattes said. “By doing this, we're in a position to be a stronger company."

Mattes was named interim president last week and replaces longtime industry executive Don Hawk, who remains in another leadership position and serves on the Motorsports Authentics board. Those personnel moves follow the sudden departure in February of Mark Dyer, who had served as president.

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