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Faced with incremental costs, officials of the Nurburgring circuit have revealed that it will be axing 92 of its employees this year.
The track, which hosts the German Grand Prix every alternate year with Hockenheim, however expects to retain the Formula 1 race despite the planned trimming of its workforce.
Nurburgring Automotive GmbH (NAG) spokesman Karl-Heinz Steinkuehler confirmed that negotiations were already under way with F1 boss Bernie Ecclestone for next year’s race.
"At the moment there is package that the operators look at positively. But it is also the state of Rhineland-Palatinate that needs to sign off as a partners for any deal," Steinkuehler told Reuters.
"The operators have no problem and the season starting in April this year is fully guaranteed," he added. "The cutbacks are necessary to meet the leasing costs."
Contracts of 37 members of the staff will not be renewed with the rest getting the layoff notice.
This year’s German GP will be held at Hockenheim.