July 23, 2014
CHARLOTTE, N.C. (AP) - Richard Petty Motorsports has laid off nine employees and reduced salaries throughout the organization, a byproduct of Chrysler's bankruptcy filing.
A person familiar with the moves tells The Associated Press that RPM officials are anticipating significant cutbacks from Dodge. Chrysler is Dodge's parent company, and the automaker filed for Chapter 11 bankruptcy protection last month.
Team co-owner Richard Petty has said the bankruptcy filing slowed the money flow from Dodge over the past few weeks.
RPM fields cars for Kasey Kahne, Elliott Sadler, Reed Sorenson and AJ Allmendinger. The team has funded Allmendinger's car largely out of pocket all season.
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