IMS cuts employees in several departments

INDIANAPOLIS (WISH) - The Indianapolis Motor Speedway is facing tough times. Employees in as many as four departments learned they are out of a job.

The road has been far from financially smooth at the Indianapolis Motor Speedway. Leaders are seeking the right move in a world of left turns, and that's not easy.

24-Hour News 8 spoke by phone to an IMS leader who confirms layoffs in the PR, marketing, online and information services departments.

Among those laid off, the face of the IMS, Ron Green, who served as the public relations director for more than a decade.

"It really isn't surprising, said Gerry Dick of Inside Indiana Business . The Indianapolis Motor Speedway months ago not only hinted, came right out and said there will likely be restructuring as we work through this very tough economic situation."

The news comes on the heels of the celebrated announcement that the IRL had landed a six-year deal with IZOD as a title sponsor.

"But the title sponsor aside, there are bigger issues at the Indianapolis Motor Speedway and all of professional sports really face right now," said Dick.

After all, a ticket to the track is a luxury, not a necessity. And when money's tight, the luxuries go first.

Fred Nation, IMS Executive Vice President of Communications, said as much in a statement released to 24-Hour News 8.

"All of our business units have been impacted by the tough global economy," the statement read.

"I certainly don't think you can blame it all on the economy. The economy is a major contributing factor, but before this recession began, open-wheel racing had its series of challenges," said Dick.

But a slowing economy put pink slips on the fast track.

IMS leaders will neither confirm how many employees were laid off, nor whether more layoffs are coming.

Leaders anticipate consumer demand will continue to impact revenues well into 2010.