RELATED: MWR won’t run full-time Cup team
Officials with Michael Waltrip Racing have begun the process of shutting down the NASCAR Sprint Cup Series organization, filing the required Worker Adjustment and Retraining Notice (WARN) with the North Carolina Commerce Department detailing the anticipated layoff of its employees.
Any employer planning the closure of a company or large layoffs is required to file a WARN notice with the state. Notices must also be filed with those workers affected, or their representatives, the N.C. Division of Workforce Solutions and the chief elected government official where the site/company is located.
According to the document, the company will lay off a total of 217 employees during a five-and-a-half month period, from Nov. 1 through April 15 of next year.
MWR, which began competing full-time in 2007, currently fields two full-time teams, the No. 15 Toyota for driver Clint Bowyer and the No. 55 Toyota for driver David Ragan. The racing facility is located in Cornelius, North Carolina.
At its height, MWR fielded three full-time teams, and its drivers have won seven Sprint Cup events. Its last victory came during the 2013 season and Bowyer has the team’s highest points finish, placing second in the 2012 Chase for the NASCAR Sprint Cup.
Bowyer enters this weekend’s race, the Bojangles’ Southern 500 at Darlington Raceway, looking to earn one of the remaining positions in this year’s 16-team Chase field.
Ragan, who joined the team after 11 races, is 24th in points.
On Aug. 19, MWR officials announced that the organization and Bowyer had mutually agreed to sever their relationship following the completion of the 2015 racing season, which concludes in November at Homestead-Miami Speedway.
RELATED: MWR, Bowyer to go separate ways
It was also stated at that time that MWR would not field a full-time entry beyond this season.
Co-owner Rob Kauffman, whose financial resources helped keep the team afloat shortly after its debut, announced in late July that he was in the process of purchasing an interest in Chip Ganassi Racing with Felix Sabates.
RELATED: Kauffman buys interest in CGR
In August, he said that MWR “really wouldn’t have existed through to today without substantial and continued financial support from me.
“I think that from a business standpoint it didn’t make sense any longer. You can’t have a top-10 budget and top-10 resources and not be in the top 10 for a sustained period of time,” he said.
“It’s a performance related business, it’s all about performance. It’s a great sport but a very difficult business model. From a business decision it just made sense to not go forward with that organization, which isn’t really commercially viable.”
Neither Bowyer nor Ragan has announced plans for 2016. Their current sponsors, 5-hour ENERGY (Bowyer) and Aaron’s (Ragan) also have not announced sponsorship plans beyond this season.