Abu Dhabi Motorsport Management, which manages Yas Marina Circuit, is slashing at least 60 jobs as a part of revision of its business plan, according to a report.
The move is intended to sharpen the company’s commercial focus, Peter Rae, Abu Dhabi Motorsport Management's (ADMM), communications director told the UAE-based 7Days newspaper.
As many as 61 people had been given the choice to leave their jobs immediately or work out their notice, daily said on Thursday.
"In line with becoming more commercially focused we had to look at what roles were required for the coming winter season and beyond, and what roles were not," Rae told 7Days.
ADMM is a joint venture between the Government of Abu Dhabi and developer Aldar Properties.
"As in any business if you can make the business run well and have lower costs then you make more money," Rae said.
"Part of the reason that we are downsizing in the way that we are, while still looking to run some very prestigious and major events, is to make that commercial focus much sharper than it has been in the past."
The company was established in 2008 to oversee the construction of Yas Marina Circuit, home of the Abu Dhabi Grand Prix, and the ongoing operations of the track.
ADMM also manages the circuit’s racing properties as well as all other facilities on the circuit grounds, including the drag strip and karting.
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