(RacingWire) - A report published in the Charlotte Business Journal says USF1 has permanently laid off it's employees.
The report cites an e-mail sent from team principal Ken Anderson to staff which describes "serious economic and funding challenges" as the cause for the layoffs.
The layoff notice said that the employees could be rehired if business conditions improve.
USF1 ceased operations prior to the opening round of the Formula One season and informed F1's governing body the FIA that it would not be fielding and entry for 2010.
The team was hopeful that the FIA would hold its entry until 2011. When that request was denied it became apparent that USF1's future was dismal at best.
