Panoz, the small Georgia manufacturer of low-volume sports cars but maybe better known for its racing legacy, has laid off some of its engineering and maintenance staff as part of what it’s calling “restructuring efforts.”
There was suspiciously no mention of the layoffs in the company’s recent announcement that it was “excited” for an organization restructure “focused on increasing efficiency and sales.” Panoz Group COO Josh Brewton confirmed the layoffs to Jalopnik in an email today, claiming there would be “no interruption in [their] ability to operate at the high levels of quality and service our clients expect.”
Brewton followed up that the restructure is to “gain economies of scale and efficiencies across all of Panoz companies,” with the layoffs supposedly also including non-automotive staff at Panoz. Brewton told Jalopnik there are no further layoffs planned.
Panoz LLC, the automotive arm of the larger Panoz Group, has been working on its new Avezzano sports car, the $159,900 road-going version of its Avezzano Pirelli World Challenge race car. It also recently confirmed its commitment to return to racing in 2019 in the honor of the late Don Panoz, the chairman of the company who passed away in September of this year.