NASCAR orders pay cuts for employees of the racing series

CHARLOTTE, NC (AP) — NASCAR has ordered staff pay cuts across its entire company until the stock car series returns to racing.

The Associated Press obtained a memo NASCAR President Steve Phelps sent to employees informing them of the cuts.

The memo says NASCAR executives will see a 25% reduction in salary, while all other employees will have their salary reduced by 20%.

Budget expenses have also been frozen amid the coronavirus pandemic.

NASCAR is currently suspended until May 9, a span costing the series seven of its elite Cup Series races.