Red Bull Racing expects 152 layoffs

LOUDON, N.H. -- Red Bull Racing expects to layoff 152 employees when it shutters operations in December.

Red Bull Racing filed a notice this week as part of North Carolina's Worker Adjustment and Retraining Notification Act that the layoffs were expected by Dec. 17, 2011. Red Bull is a two-car team that entered NASCAR in 2007. The Austrian-based energy drink company both owns and sponsors the team, which presently fields cars for Kasey Kahne and Brian Vickers.

Kahne is moving to Hendrick Motorsports next season, and Vickers is in the final year of his contract.

Red Bull says the closure is permanent.

Red Bull also owns a pair of two-car Formula One teams.