ATLANTA – Convenience-store retailer RaceTrac Petroleum Inc. has laid off as many as 100 people at its corporate headquarters and in operations, CSP Daily News has learned.
Sources cited the cost of new stores and the industrywide decline in store traffic as reasons for the move.
“Last month, RaceTrac had to make incredibly challenging decisions for the company,” RaceTrac President Billy Milam said in a statement provided to CSP Daily News. “While the health of our business remains, we identified a compelling need to streamline our projects, reduce overhead costs and improve operational inefficiencies.
“While some team members’ positions were eliminated, many were offered alternative roles," he continued. "These staffing decisions, while difficult, were made to ensure RaceTrac can continue to increase efficiencies and bring new ideas to the organization. We are certain that RaceTrac has yet to see its best days.”
The chain did not offer any additional details.
Atlanta-based RaceTrac has 455 locations in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. It ranked No. 18 in a year-end update of CSP’s2017 Top 202 list of the largest convenience-store chains in the United States.
Photo courtesy of Wikimedia Commons user Thomson200 (Creative Commons CC0 1.0).
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