NASCAR Orders Employee Pay Cuts

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CHARLOTTE, N.C. (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.

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